Negotiable Instruments Law
Section 34. Special indorsement; indorsement in blank.- A special in indorsement specifies the person to whom, or to whose order, the blank' instrument is to be payable; and the indorsement of such indorsee is necessary to the further negotiation of the instrument. An indorsement in blank specifies no indorsee, and an instrument so indorsed is payable to bearer, and may be negotiated by delivery.