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प्रश्न
What are the requisites for a valid endorsement?
दीर्घउत्तर
उत्तर
If an endorsement is to be valid, it must possess the following requisites:
- Endorsement is to be made on the face of the instrument or on its back.
- When there is no space for making further endorsements a piece of paper can be attached
- Endorsement for only a part of the amount of the instrument is invalid.
- Endorsement is complete only when delivery of the instrument is made.
- Signing in block letters does not constitute a regular endorsement.
- If the payee is an illiterate person, he can endorse it by affixing his thumb impression on the instrument.
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Endorsements
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