—(1) The words “valuable security” denote a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished, or released, or whereby any person acknowledges that he lies under legal liability, or has not a certain legal right.
(2) Notwithstanding the generality of subsection (1), “valuable security” includes credit cards, charge cards, stored value cards, automated teller machine cards and such other cards which have money or money’s worth or other financial rights attached.
A writes his name on the back of a bill of exchange. As the effect of this endorsement is to transfer the right to the bill to any person who may become the lawful holder of it, the endorsement is a “valuable security”.
[Indian PC 1860, s. 30]