the-ordinances-of-the-legislative-counci-1890v2 — Page 140

730 OF 1885. ]
[ 9 or BILLS OF EXCHANGE .


( 5. ) Wbere any person is under obligation to indorse a bill
in a representative capacity, he may indorse the bill in such
terms as to negative personal liability.
Requisites of
a valid
32. An indorsement in order to operate as a negotiation
indorsement. must comply with the following conditions, namely :
( 1. ) It must be written on the bill itself and be signed by
the indorser. The simple signature of the indorser on the bill,
without additional words, is sufficient.
An indorsement written on an allonge, or on a copy " of a
bill issued or negotiated in a country where “ copies ” are
recognised , is deemed to be written on the bill itself .
( 2. ) It must be an indorsement of the entire bill. A partial
indorsement, 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 tiro or more indorsees
severally, does not operate as a negotiation of the bill.
( 3. ) Where a bill 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 think fit, his proper
signature .
(5.) Where there are two or more indorsements on a bill,
cach 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. It
may also contain terms making it restrictive.
Conditional
indorsement.
33. Where a bill purports to be indorsed conditionally the
condition may be disregarded by the payer, and payment to
the indorsee is valid whether the condition has been fulfilled
or not.

Indorsement 34. ( 1. ) An indorsement in blank specifies no indorsee, and
in blank and
special a bill so indorsed becomes payable to bearer .
indorsement.
( 2. ) A special indorsement specifies the person to whom , or
to whose 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 bill has been indorsed in blank , any holder may
convert the blank indorsement into a special indorsement by
writing above the indorser's signature a direction to pay the
bill to or to the order of himself or some other person.