In relation to the law which governs negotiable instruments, list and briefly explain four types of endorsements

Order bills are negotiable endorsement and delivery. There are four types of delivery namely:
• Blank endorsement: this is an endorsement which does not specify the endorsee.The endorsement converts an order to a bearer bill capable of further negotiation.
• Special endorsement: this is an endorsement which specifies the person to whom or to whose order the bill is payable.
• Restrictive endorsement: this is an endorsement which prohibits further negotiation of the bill. It renders the endorsee the payee but has no capacity to negotiate it further.

• Conditional endorsement: this is an endorsement which either exempts the endorser from liability if the bill is dishonored (sans recours) or inserts a condition subject to which the amount is payable.



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