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Section 36. "When indorsement restrictive - Negotiable Instruments Law

Section 36. "When indorsement restrictive of Negotiable Instruments Law. Section 36. "When indorsement restrictive.- An indorsement is restrictive which either- (a) Prohibits the further negotiation of the instrument;

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Negotiable Instruments Law

Section 36. "When indorsement restrictive.- An indorsement is restrictive which either-

(a) Prohibits the further negotiation of the instrument; or

(b) Constitutes the indorsee the agent of the indorser; or

(c) Vests the title in the indorsee in trust for or to the use of some other person.

But the mere absence of words implying power to negotiate does not make an indorsement restrictive.

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