Advertisement
Advertisement
indorsee
/ ɪnˈdɔːsiː; ˌɪndɔːˈsiː /
Example Sentences
The generic term “holder” includes any person in possession of a bill who holds it either as payee, indorsee or bearer.
The person to whom a bill is transferred by indorsement is called the indorsee.
An indorsement in blank specifies no indorsee, and a note thus indorsed is payable to bearer and may be negotiated by delivery.
Now if any holder or indorsee wishes it paid to any particular person, he fills up the blank by writing a request to that effect above the name of the indorser, thus: "Pay to George Bruce," or "Pay to George Bruce or order;" who, again, may by indorsement order it paid to some particular person.
The rule that a consideration is necessary to a valid contract applies to all contracts and engagements not under seal, except bills of exchange and negotiable notes after they have passed into the hands of an innocent indorsee.
Advertisement
Advertisement
Advertisement
Advertisement
Browse