A.D. 1885.
1 that at e of any s defect- hill. or or other gotiates a fraud. itle to a party to older in prior to older in that the red with is shift- alleged person ölder of of the 's it for title as ires the ill in a o nega- comply dorser. ditional ige, or where
BILLS OF EXCHANGE.
{No. 3.
469
"copies” are recognized, is deemed to be written on the bill itself:
(2.) it must be an indorsement of the entire bill. A partial indorse- ment, that is to say, an indorsement which purports to transfer to the indorsee a part only of the amount payable, or which purports to transfer the bill to two or more indorsers severally, does not operate as a negotiation of the bill:
(3.) where a hill is payable to the order of two or more payees or indorsees who are not partners, all must indorse, unless the one indorsing has authority to indorse for the others:
(4.) where, in a bill payable to order, the payee or indorsee is wrongly designated or his name is mis-spelt, he may indorse the bill as therein described. adding, if he thinks fit, his proper signature:
(5.) where there are two or more indorsements on a bill, each indorsement is deemed to have been made in the order in which it appears on the bill, until the contrary is proved;
(6.) an indorsement may be made in blank or special contain terms making it restrictive. It may also indorsement.
33. Where a bill purports to be indorsed conditionally, the condition Conditional may be disregarded by the payer, and payment to the indorsee is valid whether the condition has been fulfilled or not.
34.---(1.) An indorsement in blank specifies no indorsee, and a bill Indiorsentent so indorsed becomes payable to bearer. in blank an! special
(2.) A special indorsement specifies the person to whom, or to whose indorsement. order, the bill is to be payable.
(3.) The provisions of this Ordinance relating to a payee apply, with the necessary modifications, to an indorsee under a special indorsement.
(4.) When a hill has been indorsed in blank, any holder may convert the blank mdorsement into a special indorsement by writing above the indorser's signature a direction to pay the bill to or to the order of him- self or some other person.
* indorsement.
35. (1.) An indorsement is restrictive which prohibits the further Restrictive negotiation of the bill or which expresses that it is a mere authority to deal with the bill as thereby directed and not a transfer of the ownership Pay D only,” or “Pay thereof, as, for example, if a bill is indorsed D for the account of X. or Pay D or order for collection.”
(2.) A restrictive indorsement gives the indorsee the right to receive payment of the bill and to sue any party thereto that his indorser could have sued, but gives him no power to transfer his rights as indorsee, unless it expressly authorizes him to do so.
(3.) Where a restrictive indorsement authorizes further transfer, all
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