61. (1) An endorsement in order to operate as a negotiation must be

(a) written on the bill itself and be signed by the endorser; and

(b) an endorsement of the entire bill.

(2) An endorsement written on an allonge, or on a copy of a bill issued or negotiated in a country where copies are recognized, is deemed to be written on the bill itself.

(3) A partial endorsement, that is to say, an endorsement that purports to transfer to the endorsee a part only of the amount payable, or that purports to transfer the bill to two or more endorsees severally, does not operate as a negotiation of the bill.

R.S., c. B-5, s. 62.