With reference to negotiable instruments: Highlight four types of endorsements that could be used on a bill of exchange
Types of Endorsements that could be used on bill of Exchange
- Blank: This endorsement which does not specifies the endorsee. If convents an order bill to a bearer bill.
- Special: This is an endorsement which specifies the person to whom or to whose order, the bill is payable. g
- Conditional: This is an endorsement which either exempts the endorsee from liability if the bill is dishonored or makes payment of the bill subject to a specified condition. ,
- Restrictive: This is an endorsement which prohibits further negotiation of the bill. It constitutes the endorsee as the payee who cannot negotiate the bill any further.