Conditional or Qualified Indorsement

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This  is one which negotiates or limits the indorser’s liability, in the following ways:

(a)  By Sans Recourse Indorsement: The indorser excludes his liability by express words in indorsement.

Examples:           (1) “Pay A or order

Sans Recourse”

(Sd) B

(2) “Pay A at his own risk”

(Sd) B

 

(1)  “Pay A without recourse to me”

(Sd) B

 

(b)  By making his liability depend upon the happening of a specified event, though such event may never happen.

Example : “Pay A or order on his marrying B”

 

(c)  By making the right of the indorsee to receive the amount, depend upon the happening of a specified event, though it may never happen.

(d)  By Facultative Indorsement: This is one which extents the liability of the indorser.

Example: “Pay A or order

Notice of dishonor waived”

(Sd.)    B

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