New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    As per the provisions of the Negotiable Instrument Act

    if the indorser signs his name and adds a direction to pay the amount mentioned in the instrument to a specified person, the indorsement is said to be________
    A Indorsement in full Correct Answer Incorrect Answer
    B Indorsement in blance Correct Answer Incorrect Answer
    C Indorsement in general Correct Answer Incorrect Answer
    D Indorsement in specific Correct Answer Incorrect Answer

    Solution

    Section 16 of Negotiable Instrument Act - 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 “Indorsee”.—is called the “indorsee” of the instrument.

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