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Section 55 - Conversion of indorsement in blank into indorsement in full, Section 56 - Indorsement for part of sum due : Negotiable Instruments Act 1881

 

 

What is conversion of indorsement in blank into indorsement in full? What is Indorsement for part of sum due? Conversion of indorsement in blank into indorsement in full and Indorsement for part of sum due are defined under Section 55 and 56 of Negotiable Instruments Act 1881

Section 55 of Negotiable Instruments Act 1881: "Conversion of indorsement in blank into indorsement in full"

If a negotiable instrument, after having been indorsed in blank, is indorsed in full, the amount of it cannot be claimed from the indorser in full, except by the person to whom it has been indorsed in full, or by one who derives title through such person.

 

Section 56 of Negotiable Instruments Act 1881: "Indorsement for part of sum due"

No writing on a negotiable instrument is valid for the purpose of negotiation if such writing purports to transfer only a part of the amount appearing to be due on the instrument; but where such amount has been partly paid, a note to that effect may be indorsed on the instrument, which may then be negotiated for the balance.

 

Negotiable Instruments Act 1881

Section 41 - Acceptor bound, although, indorsement forged

Section 42 - Acceptance of bill drawn in fictitious name

Section 43 - Negotiable instrument made, etc., without consideration

Section 44 - Partial absence or failure of money-consideration

Section 45 - Partial failure of consideration not consisting of money

Section 45A - Holder's right to duplicate of lost bill

 

 

CHAPTER IV
OF NEGOTIATION

Section 46 - Delivery

Section 47 - Negotiation by delivery

Section - 48 Negotiation by indorsement

Section 49 - Conversion of indorsement in blank into indorsement in full

Section 50 - Effect of indorsement

 

 

Section 51 - Who may negotiate

Section 52 -Indorser who excludes his own liability or makes it conditional

Section 53 - Holder deriving title from holder in due course

Section 54 - Instrument indorsed in blank

Section 55 - Conversion of indorsement in blank into indorsement in full

Section 56 - Indorsement for part of sum due

 

 

Section 57 - Legal representative cannot by delivery only negotiate instrument indorsed by deceased

Section 58 - Instrument obtained by unlawful means or for unlawful consideration

Section 59 - Instrument acquired after dishonour or when overdue

Section 60 - Instrument negotiable till payment or satisfaction

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