blank endorsement

  

Definition

Open endorsement that carries only the signature of the endorser and does not specify in whose favor it is made (who is the new endorsee), thus converting a document of title (such as a 'to order' bill of lading) into a negotiable (bearer or transferable) instrument. Any holder (bearer) of a blank-endorsed document has claim to ownership of the merchandise or property that is the subject matter of the document. Blank-endorsed insurance policies, for example, can be used by any party to make a claim. Also called endorsement in blank.

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