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Code · Wisconsin · Chapter 403 — Uniform commercial code — negotiable instruments

403.206 Restrictive endorsement.

95 words·~1 min read·/wi/chapter-403/403-206-2

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403.206 Restrictive endorsement.
(1)An endorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument.
(2)An endorsement stating a condition to the right of the endorsee to receive payment does not affect the right of the endorsee to enforce the instrument. A person paying the instrument or taking it for value or collection may disregard the condition, and the rights and liabilities of that person are not affected by whether the condition has been fulfilled.
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