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.

Use blank endorsement in a sentence

  • Because the check was endorsed with blank endorsement, both Ryan and Jimmy fought desperately to acquire it, so as to gain the four-hundred dollars it was made out for.

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  • He received only a blank endorsement, which is not exactly what he wanted, but he was good with it for now.

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  • The blank endorsement enabled the transaction to take place sooner rather than later as our primary businessman was out of town.

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