TeachMeFinance.com - explain Special indorsement
Special indorsement -- Same as indorsement in full ; an indorsement
on a check, draft, promissory note or other negotiable
instrument or paper which transfers the instrument specifically
to a new holder that is, the payee (the holder
or owner) formally makes over the paper in writing on the
back to another whose name is given. Then the paper is payable
only to the one to whom it has been explicitly transferred
and not to any one who may chance to have possession of it.
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