BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -There are seven kinds of indorsements: (1) Indorsement in blank (2) Indorsement in full (3) Partial indoresment (4) Conditional or Qualified indorsement (5) Restrictive indorsement (6) Facultative indorsement (7) Forged indorsement.

Detailed explanation-2: -(A) A “special indorsement” means an indorsement that is made by the holder of an instrument, whether payable to an identified person or payable to the bearer, and that identifies a person to whom it makes the instrument payble.

Detailed explanation-3: -An order paper, or order instrument, is a negotiable instrument that is payable to a specified person or its assignee. An instrument such as an order paper is negotiable only if it is payable to the order of a specified person; meaning that it must designate an individual’s name to be paid out.

Detailed explanation-4: - Special Indorsement: An indorsement that indicates the specific person to whom the indorser intends to make the instrument payable–i.e., the indorsee. Technically, this is a special, unqualified, and nonrestrictive indorsement.