NI Act, Section 50. Effect of indorsement

Category of Bare Act Name of the Act Year of Promulgation
Criminal Laws Negotiable Instruments Act 1881
Act Number Enactment Date Chapter Number
26 09.12.1881 4
Chapter Title Ministry Department
Of Negotiation Ministry of Finance Department of Financial Services

The of a negotiable instrument followed by delivery transfers to the indorsee the property therein with the right of further negotiation; but the indorsement may be express words, restrict or exclude such right, or may merely constitute the indorsee an agent to indorse the instrument, or to receive its contents for the indorser, or for some other specified person.