Negotiable, Non-Redeemable and Restricted Indorsements
Negotiable (in simple terms) means changeable, in the case of notes or credit, elastic and changeable by agreement. An unsigned contract is negotiable, but once indorsed, it is law. In terms of contract the contract is now legal and lawful. Meaning binding on land and sea, Constitutional and maritime jurisdictions. Redemption is returning some thing to a lawful state. Federal reserve credit, in any form is legal (law of the sea) and lawful (via a contract with Congress) it is extra-Constitutional. Meaning there is nothing expressly written in the Constitution that forbids Congress from letting a private company supply currency to the people. Nor letting market forces value that currency. Since it is such a gray area, Congress, being mostly attorneys, are trying to be coy in leaving the "endorsement" of their Federal Reserve Contract in the hands of the people. Individual indorsement of Federal reserve credit effectively washes their hands (legally and lawfully) to the extra-constitutional nature of their acts.
If one puts "NON-REDEEMABLE" it would be telling anyone else who got that note or credit they did not have the choice to redeem it or not via indorsement or non-indorsement. That would be against the law, one has to give them the choice to accept redemption or not.
The use of the words, "Redeemed for Lawful Money Per 12 U.S.C. ยง 411", "Without Recourse" or "Trustee" would constitute as a restricted indorsement. Each idea gives a limitation or constraint, either by law, by notice of limited liability or outright nullification of signature.
Related Articles
Are Negotiable Instruments Accepted For Payment
No, we do not accept negotiable instruments as a form of payment. We do accept USD (credit, ACH, wire), money orders, cryptocurrency (USDC, BTC, ETH).
Proof of Non-Profit Organization Needed
We've often had people come across a message similar to this: “Please send us a copy of a document confirming your status as a non-profit organization. Examples include 501c3 determination letter or proof of registration with your local attorney ...
NON-DOMESTIC $0.03 Mailing for Letters (and Maybe Packages)
Believe it or not, with any letters sent to a NON-DOMESTIC address (or by not using ZIP and spelling state) in mailings for just 3 cents. At first everyone has been met with some resistance, but once the local postmaster looks into it, they will see ...
Can Non-Resident Aliens Own S-Corporations
A non-resident alien cannot own an S-Corporation, but there are no citizenship or residence requirements for ownership of a C Corporation or an LLC.
Land Patents in Judicial vs Non Judicial Foreclosures
Foreclosure processes are different in every state, ranging from the notices that must be posted or mailed, redemption periods, scheduling, notices issued regarding the auctioning of the property; however, a general understanding of what to expect ...