BILLS OF EXCHANGE ACT 1909 - SECT 39 Indorsement in blank and special indorsement
BILLS OF EXCHANGE ACT 1909 - SECT 39
Indorsement in blank and special indorsement(1) An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.
(2) A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.
(3) The provisions of this Act 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 , herself or some other person.