Endorsement for part of sum due invalid; instrument may be negotiated for balance after a partial payment note. Endorsements purporting to transfer only part of the amount due on a negotiable instrument are invalid for negotiation; however, if a partial payment has been made, a note of partial payment may be endorsed and the instrument may then be negotiated for the remaining balance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Endorsement for part of sum due invalid; instrument may be negotiated for balance after a partial payment note.
Endorsements purporting to transfer only part of the amount due on a negotiable instrument are invalid for negotiation; however, if a partial payment has been made, a note of partial payment may be endorsed and the instrument may then be negotiated for the remaining balance.
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