indorsee

The bank manager, as the indorsee, carefully examined the check before processing it.

Definition

1. Noun:
   • A person to whom a negotiable instrument (such as a cheque, bill of exchange, or promissory note) is endorsed: The "indorsee" is the party who receives the rights to the instrument after the original holder (the indorser) signs it over. This term is used in legal and financial contexts.

Usage Examples

• (The person who received the cheque through endorsement.)
• (The party to whom the note was transferred.)

Advanced Usage

• "Holder in due course": In some legal systems, an indorsee who receives a negotiable instrument in good faith and for value becomes a "holder in due course," gaining additional protections against certain claims.
  • The bank, as indorsee of the bill of exchange, was deemed a holder in due course and could enforce payment. (The bank had special legal status due to its endorsement.)

Variants and Related Words

• Indorser (n): the person who signs the back of a negotiable instrument to transfer it to another party.
  • The indorser signed the cheque over to his creditor. (The original holder who made the endorsement.)
• Endorse (v): to sign the back of a cheque or other document to transfer ownership or show approval.
  • She must endorse the cheque before giving it to the indorsee. (To sign the back.)
• Endorsement (n): the act of signing or the signature itself on a negotiable instrument.
  • The endorsement on the bill was clear and valid. (The signature that transferred ownership.)

Synonyms

• Transferee: a person to whom property or a right is transferred.
• Assignee: a person to whom a right or interest is legally transferred.

Related Idioms

• No direct idioms: "Indorsee" is a technical legal term and does not appear in common idiomatic expressions.

Phrasal Verbs

• No phrasal verbs: This noun is not used in phrasal verb constructions.