Commercial Applications
It means signing on the back of the negotiable instrument with the objective of transferring its ownership.
- Endorsement
- Pay-in slip
- Crossing a cheque
- Bank draft
Banking
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Answer
Endorsement
Reason — Endorsement means signing on the back of a negotiable instrument (such as a cheque, bill of exchange or promissory note) by the holder for the purpose of transferring its ownership to another person. A pay-in-slip is used to deposit money/cheques into a bank account, crossing a cheque means drawing two parallel lines across its face to ensure payment only through a bank account, and a bank draft is a banker's cheque.
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