Blank Endorsement
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Definition of 'Blank Endorsement'A signature by the creator of an instrument, such as a check, which enables any holder of the instrument to assert a claim for payment. Because no payee is specified, such an endorsement essentially turns the instrument into a bearer security. |
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Investopedia explains 'Blank Endorsement'The most well-known example of a blank endorsement is a check made payable to "cash" and endorsed on the back with the signature of the account holder. Blank endorsements are much more risky than pay-to endorsements. If the instrument is lost, it can be negotiated (cashed in or deposited) by anyone who finds it. |
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