If the indorser signs his name and adds a direction to pay the amount mentioned in the instrument to a specified person, the indorsement is said to be:
Verified Answer
A. Indorsement in blank
B. Indorsement in full
C. Indorsement in part
D. Indorsement in specific
Explanation:
Section 16 of the Negotiable Instruments Act, 1881 defines 'Indorsement in full' (or special indorsement) as when the indorser signs his name and adds a direction to pay the amount mentioned in the instrument to, or to the order of, a specified person.