Do You Indorse or Endorse a Check: Top Ten Family Finance Posts #3

English: The Uniform Commercial Code, 2007 off...

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“You know that you spelled endorsement I-N-D-O-R-S-E-M-E-N-T, don’t you?” scolded my wife when she read my post on “UCC check [sic] Indorsement Rules.”

“I know,” I told her. “That’s the way it’s spelled, honey.”

Question: but, is it the way “it’s” spelled?

That’s not how the writer for the Albany Times Union spelled it. The professional journalist used “endorsement.” The Skilled Investor tweaked my spelling to “endorsement.” Greg McFarlane gave my “indorsement” spelling a grammar violation. Webster’s dictionary is very clear, you “endorse” a check. Type “indorsement” in MS Word and a squiggly, red “you have a spelling error” line pops up and a suggestion to switch to “endorsement.”

Though it may be an eyesore, indorsement is not an incorrect spelling (even in America). In fact, it is the exact legal term used in the UCC to define what lawyers call “instrument negotiation.” That would be the term people who charge $5,000/hour use for signing the back of a check.

Section 3-204 provides the legal definition of indorsement:

(a)  “Indorsement” means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of (i) negotiating the instrument, (ii) restricting payment of the instrument, or (iii) incurring indorser’s liability on the instrument, but regardless of the intent of the signer, a signature and its accompanying words is an indorsement unless the accompanying words, terms of the instrument, place of the signature, or other circumstances unambiguously indicate that the signature was made for a purpose other than indorsement.  For the purpose of determining whether a signature is made on an instrument, a paper affixed to the instrument is a part of the instrument.

Answer: Yes, you can indorse a check if you want. You can also endorse a check if you want. However, odds are you’ve always endorsed your checks, so this week do something new and try indorsing one for a change.

Three Great Blogs That Have Nothing to Do With Personal Finance

  • Jai Catalano is a fellow Yakezie challenger, a hard working photo-blogger and someone who knows how to suck me into an article with Star Wars references.
  • No Telly, No Trouble is making Groundhog’s Day cookies instead of letting her children watch TV. Cute kids. Check. Yummy looking cookies. Check. What’s not to like?

Top Ten Family Finance Posts of the Week

  • Forest Parks admits to washing his hair with vinegar and baking soda in a guest post on Retire by 40. Thinking he’d taken frugality a bit too far, I commented something that reads between the lines like “I like frugality, but I’m not washing my hair with vinegar and baking soda.” I find out today that my own wife has been washing her hair with vinegar and baking soda all week. Check out Frugal Zeitgeist for other frugal hygiene tips that my wife will admit to practicing next week.
  • New Year resolutions for your dog? Your Finances Simplified has ‘em. I’ve noticed our nearly 3 lb Yorkie has been putting on a few ounces over the years. Perhaps, it’s time for a diet?
  • It’s tax season and as usual, families have to deal with changes in the tax code. Wealth Informatics has a good roundup on what’s changed this year.
  • It’s been a bad snow season in the Northeast, which is good if you are looking to buy snow gear for the family. The snow may be shallow, but Yes, I Am Cheap reminds us to shop while the discounts are deep.
  • Don’t own a home? Then you don’t need homeowner’s insurance; you need renters insurance. Free Money Wisdom explains why renter’s insurance is worth the cost.
  • Financially Consumed explores the zero waste family lifestyle. According to the proponents, you can save between 10-15% on your family budget.
  • Frugal Upstate calculates her own grocery consumer price index and betrays Wegmans in favor of Aldi? It makes me feel the need to confess that I do half my shopping somewhere other than Wegmans; the Save-A-Lot down the street. Keep close tabs on your grocery budget because food inflation is supposed to be 4-5% this year.
  • Where do you look to buy a car? The local dealerships? The swap sheets? Craigslist? The Jenny Pincher likes to shop via social media and she has a road map for each of the major mediums.
  • The family entertainment budget is not an area we’d like to see go to waste. That’s why Life and My Finances has tips for maximizing fun without draining your wallet.
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