Negotiable Instruments Act, 1881 — section 56

56. Requisites of indorsement.―(1) Negotiation by indorsement must be of the entire instrument.

(2)An indorsement which purports to transfer to the indorsee only a part of the amount payable, or which purports to transfer the instrument to two or more indorsees severally, is not vaild as a negotiation of the instrument; but where such amount has been paid in part, a note to that effect may be indorsed on the instrument, which may then be indorsed for the balance.] 1 Subs. by the Negotiable Instruments (Amdt.) Ordinance, 1962 (49 of 1962), s. 27, for the original section 53. 2 S. 53A ins. ibid., s. 28. 3 Subs. ibid., s. 29. for the original section 56.