Question

Gina writes and signs a check payable to "Happy Market." Irma, Happy’s manager, indorses the check "For deposit only." This is

a.a blank indorsement.
b.a qualified indorsement.
c.a restrictive indorsement.
d.a special indorsement.

Answer 1

Answer:

c.a restrictive indorsement.

Explanation:

-Blank endorsement refers to an instrument that allows any holder to request the payment.

-Qualified endorsement refers to a signature in an instrument that transfers the amount to other person.

-Restrictive endorsement puts a limit on an instrument like the sentence "For deposit only."

-Special endorsement enables to make a check payable to someone else.

According to this, the answer is that this is a restrictive endorsement.