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Order bills are negotiable by endorsement and delivery. There are four types of delivery
namely:
(i) Blank endorsement: this is an endorsement which does not specify the
endorsee.The endorsement converts an order to a bearer bill capable of further
negotiation.
(ii) Special endorsement: this is an endorsement which specifies the person to
whom or to whose order the bill is payable.
(iii) Restrictive endorsement: this is an endorsement which prohibits
furthernegotiation of the bill. It renders the endorsee the payee but has no capacity
to negotiate it further.
(iv) Conditional endorsement: this is an endorsement which either exempts
the endorser from liability if the bill is dishonoured (sans recours) or inserts a
condition subject to which the amount is payable.
maurice.mutuku answered the question on May 1, 2018 at 07:10
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