Blank indorsement. A blank indorsement on a check, bill of exchange (draft), promissory note or
other negotiable instrument or paper is when the paper is not transferred specifically to a new
holder, but when the name of the payee (the holder; that is, the owner of the paper) is written
alone (by itself) on the back of the paper. Thus, ownership is transferred to any one who may be
in possession of the paper.