DAVID E. MOYA
v.
U.S. BANK NATIONAL ASSOCIATION, ETC.
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A blank indorsement on a note converts it to bearer paper that is fully negotiable by simple transfer of possession alone.
[1] A blank indorsement on a promissory note converts the instrument to bearer paper, which may be negotiated by transfer of possession alone without further indorsement.
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Join FLexlaw to unlock all legal intelligence“Once this blank indorsement was made on the note, the note became bearer paper, fully negotiable by simple transfer, like a signed check made out to cash or a signed check with the payee left blank.”
Court's explanation of the legal effect of blank indorsement on negotiability
The case involves a note with a blank indorsement. The court applies established principles of commercial paper negotiability.…
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PER CURIAM.
Affirmed. See HSBC Bank USA, Nat’l Ass’n v. Buset, 241 So. 3d 882, 889 (Fla. 3d DCA 2018) (“Once this blank indorsement was made on the note, the note became bearer paper, fully negotiable by simple transfer, like a signed check made out to cash or a signed check with the payee left blank.
Negotiability by simple transfer is one of the defining characteristics of this type of commercial paper. It reflects one major difference between a negotiable instrument and, for example, a deed to land.” citing § 673.2011, Fla. Stat. (2018) (“If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.”)).