indorsement - Legal Definition
- The act of placing a signature on the back of a negotiable instrument in order to assign it to an indorsee.
- The signature itself.
A signature by a third party who is neither the payor or the payee, but is acting to guarantee payment by the former.blank indorsement
A signature that names no payee, thereby making the instrument payable to the bearer.restrictive indorsement
An indorsement placing special conditions upon the assignment of the instrument.special indorsement
An indorsement naming the payee (or, for a transfer of goods, the person to whom they must be delivered).