"An indorsement in order to operate as a negotiation must comply with the following conditions, namely--"
"the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto."
"Every consignee of goods named in a bill of lading, and every indorsee of a bill of lading, to whom the property in the goods therein mentioned passes upon or by reason of such consignment or indorsement,"
A bill is payable to bearer which is expressed to be so payable, or on which the only or last indorsement is an indorsement in blank.
"A special indorsement specifies the person to whom, or to whose order, he bill is to be payable."
it shall not be incumbent on such banker to prove that such indorsement or any subsequent indorsement was made by or under the direction or authority of the person to whom the said is made payable either by the drawer or any indorser thereof.
"An indorsement in blank specifies no indorsee, and a bill so indorsed ecomes payable to bearer."
"A restrictive indorsement gives the indorsee the right to receive payment of the bill and to sue any party thereto that his indorser could have sued,"
"it is not incumbent on the banker to show that the indorsement of the payee or any subsequent indorsement was made by or under the authority of the person whose indorsement it purports to be,"
"in the case of a bill payable to drawer's order, the then capacity of the drawer to indorse, but not the genuineness or validity of his indorsement;"
an indorsement may be made in blank or special. It may also contain erms making it restrictive.
A bill payable to order is negotiated by the indorsement of the holder completed by delivery.
"the banker is deemed to have paid the bill in due course, although such indorsement has been forged or made without authority."
Negotiation of bill depends mainly on indorsement besides delivery.
blank indorsement
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