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A restrictive endorsement such as "For deposit only" followed by the signature of the payee...

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Finance

A restrictive endorsement such as "For deposit only" followed by the signature of the payee _________________________________________________.

*Hint: remember that after a person cashes a check, the bank must further negotiate the instrument during the checkclearing process to be paid back for the money/credit it gave the depositor.

a

prevents any further negotiation

b

requires credit (depositing) to the endorser's account before further negotiation occurs

c

requires credit to the endorser's account and prevents any further negotiation

d

is invalid

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