unrestricted indorsement
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 271 U.S. 489 - City of Douglas v. Federal Reserve Bank · 1926Most cited · 191 citing opinions
when paper is indorsed without restriction by a depositor, and is at once passed to his credit by the bank to which he delivers it, he becomes the creditor of the bank; the bank becomes owner of the paper, and in making the collection is not the agent for the depositor.