Listen "Investment Term For The Day - X-Mark Signature"
Episode Synopsis
An X-mark signature is made by a person in lieu of an actual signature. Due to illiteracy or disability, a person may be unable to append a full signature in name to a document as an attestation that its content has been reviewed and approved. In order to be legally valid, the X-mark signature must be witnessed.X-mark signatures are so named because historically the person signing the document simply makes a cross-hatched mark resembling a letter "X" rather than their full, customary signature. The actual form of the X-mark may not actually be a letter "X" and might take some other form of illegible mark meant to authenticate that the person understands and agrees to the stated terms.Due to the obvious potential for fraud, doubts may arise about the validity and enforceability of documents signed with X-mark signatures. In some states, the presiding law can require courts to invalidate wills signed with an X unless the testator was physically or mentally incapable of signing their own full name.An individual might use an X-mark signature if they have been injured in an accident and need to approve a legal document but cannot physically form a full signature. For example, the testator may need to grant power of attorney to a responsible party while they are being treated in a hospital.Become a supporter of this podcast: https://www.spreaker.com/podcast/investment-terms--4432332/support.
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