New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    If an indorser signs and 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____________
    A In blank Correct Answer Incorrect Answer
    B In full Correct Answer Incorrect Answer
    C Special Correct Answer Incorrect Answer
    D Restrictive Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Negotiable Instrument Act Section 16. 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.

    Practice Next