Malaysia legislation
Section 31
Section 31
(2)
A bill payable to bearer is negotiated by delivery.
(3)
A bill payable to order is negotiated by the indorsement of the holder completed by delivery.
Bills of Exchange 23
(4)
Where the holder of a bill payable to his order transfers it for value 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 indorsement of the transferor.
(5)
Where 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.
Requisites of a valid indorsement