An indorsement that passes title to the instrument but limits the indorser’s liability to later holders if the instrument is later dishonored.
? Typically, a qualified indorsement is made by writing ¡°without recourse¡± or ¡°sans recourse¡± over the signature.
¡ª Also termed indorsement without recourse. UCC ¡ì 3-415(b). See WITHOUT RECOURSE. [Cases: Bills and Notes 293. C.J.S. Bills and Notes; Letters of Credit ¡ì 160.]
What is the Chinese interpretation of qualified indorsement?
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