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Established Contributor
SamsungHDTV
Posts: 566
Registered: ‎10-25-2011
0

Restrictive Endorsement laws for Texas? Anybody familiar?

I live in Texas and I'm finding it hard to research how restrictive endorsements laws apply. Anybody know and enlighten me?

I'm a personal banker and do a lot of auto loans serving the Houston area.
I suggest first time car buyers to read the sticky guide in the auto loan section.
I try to check these forums often, but if I missed your post, please feel free to message me with a link to it.
Mega Contributor
RobertEG
Posts: 18,112
Registered: ‎03-19-2007
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Re: Restrictive Endorsement laws for Texas? Anybody familiar?

That is a very controversial area.  The Federal Reserve has even thrown in its opinion, which is basically that a check is a negotiable instrument with the right of deposit aside from conditions written on the check.  Legal research based on both statutory and case law precedent in your jurisdiction would be required.

Opinions based on such research are reserved for members of the bar.  I would not rely on opinions expressed in a public credit forum.

I would consult an atty if you are planning to make a conditional endorsement and attempt to enforce its provisions.

Established Contributor
SamsungHDTV
Posts: 566
Registered: ‎10-25-2011
0

Re: Restrictive Endorsement laws for Texas? Anybody familiar?

Robert,

 

Would you mind making sense of these two short articles? From what I can comprehend, restrictive endorsements can be used in Texas.

 

http://www.autosubrogation.com/articletexasaccord.pdf

 

http://accordandsatisfaction.uslegal.com/state-laws-on-accord-and-satisfaction/texas-accord-and-sati...

I'm a personal banker and do a lot of auto loans serving the Houston area.
I suggest first time car buyers to read the sticky guide in the auto loan section.
I try to check these forums often, but if I missed your post, please feel free to message me with a link to it.

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