Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter INegotiation of bills29. Negotiation of bill |
| (1) | A bill is negotiated if it is transferred from one person to another in such a manner as to constitute the transferee the holder of the bill. |
| (3) | A bill payable to order is negotiated by the indorsement of the holder completed by delivery. |
| (4) | If the holder of a bill payable to his order transfers it without indorsing it, the transfer gives the transferee such title as the transferor had in the bill, and the transferee in addition acquires the right to have the bill indorsed by the transferor. |
[Sub-section (4) substituted by section 10 of Act 56 of 2000.]
| (5) | If any person is under obligation to indorse a bill in a representative capacity, he may indorse the bill in such terms as to negative personal liability. |