1[(1)] If the indorser signs his name only, the indorsement is said to be “in blank,” and if he adds a direction to pay the amount mentioned in the instrument to, or to the order of, a specified person, the indorsement is said to be “in full”, and the person so specified
“Indorsee”.—is called the “indorsee” of the instrument.
2[(2) The provisions of this Act relating to a payee shall apply with the necessary modifications to an indorsee.]
Footnotes in the official text
- 1.S. 16 renumbered as sub-section (1) by s. 3, ibid.
- 2.Ins. by Act 5 of 1914, s. 3.