Page 6 - Without Recourse vs Blank Endorsement

4
TIME DRAFT is a Draft or Bill of Exchange Security) payable-(that may possible or ought to be paid) to a THIRD PARTY on a specified or determinable future date, as OPPOSED to a SIGHT DRAFT. A (NATURAL-FOOL PERON) BANKER’S ACCEPTANCE is a time draft.
CORRESPONDENT-(is one with whom an intercourse is carried on through messages or notes): (1) through a bank that holds deposits against other (natural person) banks and perform services, such as check (restraint) clearing. The deposit-(pledge of unpaid)) balance is a form from payment-(thing given in discharge of a debt/debit or fulfillment of a promise) against services (at ones bank-city, reserve district clearing houses par valued paper instrument). Many community banks clear checks (par value) drawn on out-of-town (natural person) banks through RESERVE ACCOUNTS at a larger (shell) bank. Correspondent (commercial invisible net profit of par value) banks access to financial-(public revenue unit) markets (over the counter), that are ordinarily beyond the reach from smaller financial-(public revenue unit) institutions. (2) A Mortgage broker or broker-(who make and conclude bargains against others in matters from real money or merchandize, learn the rate out of security exchange and notify their employers) who services mortgage-(dead pledge) loans in place of a fee-(which is a reward), collecting (another’s) principle and interest payments, plus real estate-(being a quantity of interest, a man has in lands, tenements, or other effects produced through a agent) taxes-(which is a rate or sum of real money assessed on the natural-fool person or intellectual property of a citizen from trade by government, against the use of the nation or state).
BLANK ENDORSEMENT is endorser’s writing on a check (restraint), promissory note, or bill of exchange at par, without indicating (on the back of the instrument)
the party to whom it is payable-(that may possible or ought to be paid). The (natural-fool person) MERELY SIGNS HIS OR HER NAME (THING), making the instrument “PAYABLE TO BEARER” (which is usually the commercial bank they have an account with), and NEGOTIABLE by-(which is through or with denoting a agent) delivery alone. Also called ENDORSEMENT IN BLANK.
UNIFORM COMMERCIAL CODE DEFINITION OF BANK: “MEANS A PERSON ENGAGED IN THE BUSINESS OF BANKING.” FROM THIS DEFINITION, ALL WHO HAS A BANK ACCOUNT ARE CONSIDERED A BANK, WHICH HAS RESERVES IN YOUR LOCAL BANK-CITY DISTRICT.
humanorotheranimal.com End State Blue Sky Laws 2 of 2 Without Recourse vs Blank Endorsement www.humanorotheranimal.com
BARRON’S GUIDE DICTIONARY OF BANKING TERMS