A leg signature usually placed on the reverse of a draft, signifies transfer of rights from the holder to another party. The transfer of right to obtain delivery of the goods of the carrier by means of a consignee's signature on the reverse side of a Bill of Lading. If the name of the new consignee( transferee) is not stated, the endorsement is an open one, which means every holder of the document is entitled to obtain delivery of the goods.