In relation to the law which governs negotiable instruments, list and briefly explain four types of endorsements

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.



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