Approved Indorsed Notes
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
Notes endorsed by another person than the maker, for additional security, the endorser being satisfactory to the payee. Public sales are sometimes made on approved endorsed notes. The meaning of the term is that the purchaser shall give his promissory note for the amount of his purchases, endorsed by another, which, if approved of by the seller, shall be received in payment. If the party approve of the notes, he consents to ratify the sale; Mills v. Hunt, 20 Wend. (N. Y.) 431.