Act No. 2137 Section 38

Negotiation of negotiable receipts by indorsement.

Section 38

SEC. 38. Negotiation of negotiable receipts by indorsement.—A negotiable receipt may be negotiated by the indorsement of the person to whose order the goods are, by the terms of the receipt, deliverable. Such indorsement may be in blank, to bearer or to a specified person. If indorsed to a specified person, it may be again negotiated by the indorsement of such person in blank, to bearer or to another specified person. Subsequent negotiation may be made in like manner.

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Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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