indorser
101implied warranty — A statement, description, or undertaking by the insured under a marine policy which binds the insured as though expressed in the contract. Procacci v United States Fidelity Ins. Co. 118 NJL 423, 193 A 180. In sale of personal property: a warranty …
102indorsement with enlarged liability — An indorsement of a bill or negotiable instrument with the written words demand, notice, and protest waived, and payment guaranteed, appearing above the signature of the indorser. Buck v Davenport Sav. Bank, 29 Neb 407 …
103irregular indorsement — Sometimes referred to as an anomalous indorsement, meaning an endorsement for the purpose other than to transfer the instrument, an indorsement by a stranger to the instrument or a person not in an actual or apparent chain of title, or an… …
104joint maker — A person who with another, or with others signs a negotiable instrument on the face thereof and thereby becomes primarily liable for its payment. First Nat. Bank v Guardian Trust Co. 187 Mo 494, 86 SW 109. As to the status of an irregular… …
105notice of dishonor — A notice that a bill or note has been dishonored by nonacceptance or nonpayment. An essential of a cause of action of the holder against an indorser or drawer, unless waived or dispensed with, as where, under the circumstances, it cannot be given …
106primary liability — The liability of the person who, by the terms of the instrument of obligation, is absolutely required to pay the same. 11 Am J2d B & N § 525. The liability of a maker or principal, as distinguished from that of a guarantor, indorser, or other… …
107recourse — A seeking of aid or assistance. Resort to a person for satisfaction of a demand. In ordinary legal and commercial usage, resort by creditor or obligee to a surety, guarantor, or indorser for payment, after the default of the principal debtor or… …
108redraft — The drawing of a new bill of exchange on the drawer or indorser of a bill which has been protested, by the holder of the original bill. The making of a second draft in the preparation of a will or other instrument …
109referee in case of need — A person whose name is inserted in a bill of exchange by the drawer or any indorser, as a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonored by nonacceptance or nonpayment. It is in the option of… …
110remote indorsee — The status of an indorsee holding a bill or note in reference to an indorser under an indorsement made prior to the one under which he received the instrument. 11 Am J2d B & N § 639 …
