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The Philippine Negotiable Instruments Law
At the same time, disclose his principal - Indorser imposes some other condition to his liability, or 3. Exceptions: where the contrary appears otherwise. When it has been restrictively indorsed 2. The indorser whose indorsement is struck out is relieved from his liability on the instrument 2. All subsequent indorsers are also relieved from their liability on the instrument Rule in Striking out Indorsement: 1. Order instrument - If there are blank as well as special indorsements, the holder may strike out any indorsement immediately following a blank indorsement. The transaction operates as soon as an equitable assignment 2.
The Law on Negotiable Instruments
LAW ON NEGOTIABLE INSTRUMENTS BY HECTOR DE LEON PDF