_ =Bills of Exchange. (Ch. 31. No. 5.

and the transferee in addition acquires the right to have the
indorsement of the transferor.

(5) Where any person is under obligation to indorse a
bill in a representative capacity, he may indorse the bill in
such terms as to negative personal liability.

32. An indorsement in order to operate as a negotiation
must comply with the following conditions, namely,—

(a) it must be written on the bill itself and be signed
by the indorser; the simple signature of the indorser on
the bill, without additional words, is sufficient:

An indorsement written on an allonge, or on a “copy”’
of a bill issued or negotiated in a country where
‘copie.’ are recognised, is deemed to be written on
the bill itself;

(6) it must be an indorsement of the entire bill; a
partial indorsement, that is to say, an indorsement
which purports to transier to the indorsee a part only
of the amount payable, or which purports to transfer
the bill to two or more indorsees severally, does not
operate as a negotiation of the bill;

(c) where a bill is payable to the order of two or more
payee. or indorsees who are not partners, all must
indorse, unless the one indorsing has authority to indorse
for the others;

(d) where, in a bill payable to order, the payee or
indorsee is wrongly designated, or his name is misspelt,
he may indorse the bill as therein described, adding, if
he thinks fit, his proper signature ;

(e) where there are two or more indorsements on a
bill, each indersement is deemed to have been made in
the order in which it appears on the bill, until the con-
trary is proved;

(f) an indorsement may be made in blank or special;
it may also contain terms making it restrictive.

33. Where a bill purports to be indorsed conditionally,
the condition may be disregarded by the payer, and payment

to the indorsee is valid ‘whether the condition has been
fulfilled or not.

767

Requisites
of a valid
indorsement.

Conditional
indorsement.