TeachMeFinance.com - explain In case of need
In case of need -- This is an indorsement sometimes placed on a bill of exchange naming a person who will pay it for the
honor (credit) of the drawer (or an indorser) should the bill
not be met (paid) at maturity by the drawee (the one who
was to pay it). The usual form is "In case of need apply to
A. B. (Signed) C. D.," meaning that if the bill is not paid
A. B. will pay it for account of C. D. (the drawer or an indorser).
Sometimes the indorsement is written simply "In
need, with A. B. (Signed) C. D."
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