Understanding the Legal Issues of Endorsements
1 hour 30 minutes
Understand the rules and legal issues pertaining to unauthorized and fraudulent endorsements.
Unauthorized and fraudulent endorsements are frequently the basis for litigation. As a result, understanding the legal rights and remedies surrounding check endorsements, training bank staff, review of bank statements, and oversight of bookkeepers and other professionals is critical to understanding legal risk. This topic will discuss the rules and legal issues pertaining to check endorsements, including those established by the Uniform Commercial Code. The information will address the best practices and procedures for confirming proper endorsements, address endorsement issues concerning business checks, income tax and treasury checks, and checks made payable to trusts and other fiduciaries.
• You will be able to describe the risks that may arise based on fraudulent or unauthorized endorsements.
• You will be able to identify the various types of endorsements as well as unauthorized endorsements.
• You will be able to discuss the Uniform Commercial Code provisions applicable to endorsements.
• You will be able to explain the importance of careful review of endorsements before negotiating a check.