qualified indorsement

An indorsement that passes title to the instrument but limits the indorser’s liability to later holders if the instrument is later dishonored.

• Typically, a qualified indorsement is made by writing “without recourse” or “sans recourse” over the signature.

— Also termed indorsement without recourse. UCC § 3-415(b). See WITHOUT RECOURSE. [Cases: Bills and Notes 293. C.J.S. Bills and Notes; Letters of Credit § 160.]

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词条贡献者

双语律师李黎，国际知名法学院法律专业，擅长翻译各类与消费者金融诉讼相关的法律文件。