Indorsement in blank and in full
Full Text
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.
(2) The provisions of this Act relating to a payee shall apply with the necessary modifications to an indorsee.
Plain English Summary
Defines endorsement in blank (signature only) and in full (with payment direction to a specified endorsee), applying payee provisions to the endorsee.
Key Legal Elements
- Indorsement in blank consists of the indorser's signature only
- Indorsement in full specifies a person (indorsee) to whom or to whose order the payment must be made
- Payee rules and rights apply equally to an indorsee
Practical Note
Crucial distinction. An instrument endorsed in blank becomes payable to bearer and can be negotiated by mere delivery. An instrument endorsed in full requires further endorsement and delivery for negotiation.
हिंदी पाठ
“निरंक” और “पूर्ण” पृष्ठांकन।—
(1) यदि पृष्ठांकक केवल अपने नाम पर हस्ताक्षर करता है, तो पृष्ठांकन को “निरंक” (in blank) कहा जाता है, और यदि वह लिखत में उल्लिखित राशि का भुगतान किसी विनिर्दिष्ट व्यक्ति को या उसके आदेशानुसार करने का निदेश जोड़ता है, तो पृष्ठांकन को “पूर्ण” (in full) कहा जाता है, और इस प्रकार विनिर्दिष्ट व्यक्ति लिखत का “पृष्ठांकिती” (indorsee) कहलाता है।
(2) आदाता (payee) से संबंधित इस अधिनियम के उपबंध आवश्यक संशोधनों के साथ पृष्ठांकिती (indorsee) पर भी लागू होंगे।