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Report No. 11

57. Section 15 -

"Indorsement".- The definition of "indorsement" has similarly been transferred to the Definition Clause, with verbal changes. The definition of "indorsee" is at present included in section 16(1) and refers exclusively to the indorsee of an 'indorsement in full' (otherwise known as special indorsement). In fact, however, the word 'indorsee' is used to denote "not only the person to whom a bill is specially indorsed, but also the bearer of a bill indorsed in blank- that is, any person, who makes title to a bill through an indorsement".1 It is in this wider sense, that the word 'indorsee' is used even in several other sections of our Act, e.g., section 87. We have, accordingly, made the definition of indorsee a part of the definition of indorsement in general.

1. Chalmers, 12th Edn., p. 9; Halsbury's, 3rd Edn., Vol. 9, p. 146.

Negotiable Instruments Act, 1881 Back

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