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The bank accepted the absolute endorsement on the promissory note, which would only become binding if the original endorsee failed to meet the terms.
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The bank accepted the absolute endorsement on the promissory note, which would only become binding if the original endorsee failed to meet the terms.
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Related words
absolute endorsement
IPA(Pronunciation)
Noun
Japanese Meaning
原裏書人（初めに裏書を受けた者）が契約条件を履行しなかった場合にのみ効力を発揮する裏書、すなわち、条件付きではなく、当該失敗時にのみ拘束力を持つ承認のこと。
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