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of <h1>Understanding Section 16: Differentiating 'In Blank' and 'In Full' Indorsements on Negotiable Instruments.</h1> Section 16 of the Negotiable Instruments Act, 1881, defines two types of indorsements on negotiable instruments: 'in blank' and 'in full.' An indorsement 'in blank' occurs when the indorser signs their name without specifying a payee, while an indorsement 'in full' includes a directive to pay a specified person, known as the 'indorsee.' The Act's provisions applicable to a payee also apply to an indorsee with necessary modifications.
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