Bill Collection Authority
Pierre Moreau indorsed a bill of exchange en recouvrement to his bank. The bank presented the bill to the drawee and collected the face amount. Ownership of the instrument remained with Moreau throughout the transaction.
Also known as: recouvrement · debt recovery · collection
Written by attorneys · grounded in primary & secondary sources — see below
An indorsement on a bill of exchange that grants the indorsee authority to collect the amount due without transferring ownership of the instrument.
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Pierre Moreau indorsed a bill of exchange en recouvrement to his bank. The bank presented the bill to the drawee and collected the face amount. Ownership of the instrument remained with Moreau throughout the transaction.
Sophie Laurent gave her agent an en recouvrement indorsement on a promissory note. The agent sued the maker in its own name to obtain payment. The court recognized the agent's collection power but confirmed title stayed with Laurent.
Henri Duval indorsed a trade acceptance en recouvrement to a factor. After collection the factor remitted the proceeds minus a commission. Duval retained ownership of the instrument and any surplus funds.
Claire Bernard placed an en recouvrement indorsement on a bill held by her creditor. She later revoked the authority before payment. The creditor could no longer collect and was required to return the instrument.
Jean Leclerc first indorsed a bill in blank and then added an en recouvrement indorsement to a collecting bank. The bank obtained payment and credited Leclerc's account. Title never passed to the bank.
Marie Fontaine indorsed a bill en recouvrement to her attorney. The drawee dishonored the instrument. The attorney returned the bill to Fontaine, who remained its owner and could pursue the drawer directly.
It authorizes the indorsee to collect the amount of the bill without transferring ownership of the instrument itself.
No. The indorsement confers only collection authority and leaves ownership with the original holder.
A full indorsement transfers both the instrument and the right to its proceeds, whereas en recouvrement limits the indorsee to collection only.
…specified percentage of the wages payable annually by each employer for his employees' services in the state. The assessment and collection of the contributions and the fund are administered by appellees. Section 14 (c) of the Act (Wash. Rev. Stat., 1941 Supp., § 9998-114c) authorizes appellee Commissioner to issue an order and…