Section 34Part 2 — Bills of Exchange
Indorsement in blank and special indorsement
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An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.
A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.
The provisions of this Act relating to a payee apply, with the necessary modifications, to an indorsee under a special indorsement.
When a bill has been indorsed in blank, any holder may convert the blank indorsement into a special indorsement by writing, above the indorser’s signature, a direction to pay the bill to or to the order of themselves, or some other person.