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    The document defines endorsement as signing on the face or back of a negotiable instrument like a check for the purpose of negotiating it. There are three types of endorsements: blank endorsement where only the signature is written, endorsement in full where a direction to pay a specified person is added, and restrictive endorsement where further negotiability is restricted. Partial endorsements that only direct partial payment or include additional conditions are invalid, as is an endorsement by a minor.

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    General Knowledge Today_40

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    The document defines endorsement as signing on the face or back of a negotiable instrument like a check for the purpose of negotiating it. There are three types of endorsements: blank endorsement where only the signature is written, endorsement in full where a direction to pay a specified person is added, and restrictive endorsement where further negotiability is restricted. Partial endorsements that only direct partial payment or include additional conditions are invalid, as is an endorsement by a minor.

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    6 views1 page

    General Knowledge Today - 40

    Uploaded by

    niranjan_mehar
    The document defines endorsement as signing on the face or back of a negotiable instrument like a check for the purpose of negotiating it. There are three types of endorsements: blank endorsement where only the signature is written, endorsement in full where a direction to pay a specified person is added, and restrictive endorsement where further negotiability is restricted. Partial endorsements that only direct partial payment or include additional conditions are invalid, as is an endorsement by a minor.

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    Articles from General Knowledge Today

    Conditions of Endorsements
    2011-04-23 03:04:16 GKToday

    The section 15 of the Negotiable Instruments Act 1881 defines endorsing as "signing on the face or an instrument for the purpose of negotiating a negotiable instrument (such as Cheque)." Endorsing is signing in the instrument either on face or on back, for the purpose of negotiation of a NI. The person who signs is called endorser. The person in whose favor the instrument has been transferred is called Endorsee. The holder of the instrument endorses the instrument. If he signs only and does not mention anything else it is called Blank Endorsement. If he endorses and adds a direction to pay the amount to a specified person it is called Endorsement in full. If he signs and adds direction for restriction on further negotiability, then it is called Restrictive Endorsement. Partial endorsement is NOT valid. This means that if Suresh issues you a check of ` 10000 and endorses on the backside of the check that "Pay Ramesh ` 5000" it is NOT a Valid endorsement. Again if Suresh issues you a check of ` 10000 and endorses with a direction that " Pay Ramesh when he passes his examination", this is again NOT a valid endorsement. Both these conditions are called partial endorsements. A minor is NOT a valid endorser.

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