indorsee

Indorsee \In`dor*see"\, n.
   The person to whom a note or bill is indorsed, or assigned by
   indorsement.
   [1913 Webster]
    

INDORSEE, contracts. The person in whose favor an indorsement is made, 
     2. He is entitled to all the rights of the indorser, and, if the bill 
or note have been indorsed over to him before it became due, he may be 
entitled to greater rights than the payee and indorser would have had, had 
he retained it till it became due, as none of the parties can make a set-
off, or inquire into the consideration of the bill which he then holds. If 
he continues to be the holder (q.v.) when the bill becomes due, he ought to 
make a legal demand, and give notice in case of non-acceptance or non-
payment. Chitty on Bills, passim.