16: Indorsement “in blank” and “in full”

“Indorsement in blank” and “in full”.— [(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 is called the “indorsee” of the instrument. “Indorsee.” [(2) The provisions of this Act relating to a payee shall apply with the necessary modifications to an indorsee.]

Effective date: 1881-12-09

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