Order bills are negotiable by endorsement and delivery. There are four types of delivery namely:
• Blank endorsement: this is an endorsement which does not specify the endorsee.The endorsement converts an order to a bearer bill capable of further negotiation.
• Special endorsement: this is an endorsement which specifies the person to whom or to whose order the bill is payable.
• Restrictive endorsement: this is an endorsement which prohibits further negotiation of the bill. It renders the endorsee the payee but has no capacity to negotiate it further.
• Conditional endorsement: this is an endorsement which either exempts theendorser from liability if the bill is dishonoured (sans recours) or inserts a condition subject to which the amount is payable.
