NIA | Chapter IV |
---|---|
S. 56 | Indorsement for part of sum due |
Description | |
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. |