Today's lesson focused on types of check endorsements ,restrictive and blank. I identified the term "bearer" paper and discussed how an endorsement in blank, without restrictions, creates bearer paper such that anyone in possession of the check can cash the item. We then discussed how to place a restrictive endorsement such as "for deposit only" in order to restrict the holder's right to cash a lost instrument . I then discussed warranties implicit in endorsements ie. that the check is valid and not altered and identified how one can endorse the check "without recourse" in order to avoid liability if the instrument is dishonored. Last, we completed exercises applying the concepts of negotiability and holder in due course.