Legal Definitions - full indorsement

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Definition of full indorsement

Definition: Full indorsement is a type of indorsement where a person signs on the back of a negotiable instrument, such as a check, to transfer or guarantee the instrument or to acknowledge payment. It can be either an irregular indorsement or a special indorsement.

Example: Let's say John receives a check from his friend Tom for $100. If John signs the back of the check and writes "Pay to the order of Sarah," it becomes a full indorsement. Sarah can now deposit the check into her account or cash it.

This example illustrates how a full indorsement can transfer the ownership of a negotiable instrument from one person to another.

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Simple Definition

Indorsement is when someone signs the back of a piece of paper that can be used as money, like a check, to transfer it to someone else or to show that they got paid. There are different types of indorsements, like a blank one where no specific person is named, or a special one where a specific person is named. Some indorsements have conditions or restrictions, like only being able to be used by a certain person or for a certain purpose. If someone signs the back of a paper without permission, that's called an unauthorized indorsement.

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