1[ (1) ] W the indorser signs hi s name only, the indorsement is said to be "in blank", and if he adds a direction to pay the amount me ntioned in the instrument to, or to the ord er of, a specified person, the indorsement is said to be "in full", and the person so specified is called the "indorsee" of the instrument.
2[( 2 ) The provisions of this Act relating to a payee sh all apply with the necessary modifications to an indorsee.]
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1 . Section 16 renumbered as sub -section ( 1 ) by Act 5 of 1914 , sec. 3 .
2. Added by Act 5 of 1914 , sec. 3 .