Endorsement in blank and special endorsement

(1) An endorsement in blank specifies no endorsee, and a bill so indorsed becomes payable to the bearer. (2) A special endorsement specifies the person to whom, or to whose order, the bill is to be payable. (3) The provisions of this Act relating to a payee apply, with the necessary modifications, to an endorsee under a (4) When a bill has been indorsed in blank, any holder may convert the blank endorsement into a special endorsement by writing above the endorser’s signature a direction to pay the bill to or to the order of himself or some other person.