Indorsement
Full Text
Indorsement.—When the maker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negotiation, on the back or face thereof or on a slip of paper annexed thereto, or so signs for the same purpose a stamped paper intended to be completed as a negotiable instrument, he is said to indorse the same, and is called the “indorser”.
Plain English Summary
Defines endorsement as when a maker or holder signs a negotiable instrument (on back, face, or attached slip) for negotiation, and defines the signer as the endorser.
Key Legal Elements
- Must be signed by the maker or holder
- Signing must be for the purpose of negotiation
- Can be signed on the back or face of the instrument, or on an attached slip of paper
- Can also apply to signing a stamped paper intended to be completed as an instrument
Practical Note
Crucial for physical negotiable instruments. Signs must be for the purpose of negotiation. The slip of paper annexed is legally known as an 'allonge'. An endorsement can be in blank or in full, which affects the transfer method.
हिंदी पाठ
पृष्ठांकन।—जब किसी परक्राम्य लिखत का निर्माता या धारक, परक्रामण (negotiation) के प्रयोजन से, लिखत की पीठ पर (back) या मुख पर (face) या उससे जुड़े कागज की पर्ची (slip/allonge) पर हस्ताक्षर करता है, या उसी प्रयोजन के लिए एक ऐसे स्टाम्प पेपर पर हस्ताक्षर करता है जिसे परक्राम्य लिखत के रूप में पूर्ण किया जाना आशयित हो, तो उसे लिखत को पृष्ठांकित (indorse) करना कहा जाता है, और वह “पृष्ठांकक” (indorser) कहलाता है।