Endorsement is a transfer note. If an order document (bill of exchange or check) is to be transferred to another holder, the previous holder must put a transfer note on the reverse of the document. His signature is sufficient (blank endorsement). The endorser (the person who passes on and signs the bill of exchange) thus recognizes the new holder and guarantees the new holder to redeem the paper with his signature. He is also liable.

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Further explanations for the first letter I.