This is known as a "qualified endorsement."
A NEGOTIABLE NOTE
Most notes are negotiable; that is because they may be sold, like any other personal property, or the ownership may be transferred from one person to another.
No note is negotiable that does not bear on its face, the words, "Pay to bearer," or "Pay to the order of," followed by the payee's name.
JOINT NOTES
When two persons sign a note they become jointly and individually responsible for its payment.
Such persons are known as "joint makers."
If one signs his name on the back of a note before it has been handed to the payee, he makes himself not only an endorser, but a joint maker.
If the maker of such a note refuses to pay on the expiration of time stated, he is liable for the amount without any notification.