Question: Benton, as agent for Savidge, received an insurance settlement check from Metropolitan Life Insurance Co. He indorsed it For deposit and deposited it in Bryn

Benton, as agent for Savidge, received an insurance settlement check from Metropolitan Life Insurance Co. He indorsed it “For deposit” and deposited it in Bryn Mawr Trust Co. in Savidge’s account. What were the nature and effect of this indorsement? [Savidge v Metropolitan Life Ins. Co., 110 A2d 730 (Pa)]

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