Whereas it hath been held, that bonds and specialties, under hand and seal, and notes in writing, signed by the party who makes the same, whereby such party is obliged, or promises, to pay unto any other person, or his order or assigns, any sum of money therein mentioned, are not, by law, assignable or indorsable over to any person, so as that the person to whom the said bonds, specialties, note or notes, is or are assigned or indorsed, may in their own names, by action at law, or otherwise, recover the same: Therefore to the intent to encourage trade, commerce and credit, Be it enacted, That all bonds, specialties, and notes, in writing made or to be made, and signed by any person or persons, whereby such person or persons is or are obliged, or doth or shall promise to pay to any other person or persons, his, her, or their order or assigns, any sum or sums of money, mentioned in such bonds, specialties, note or notes, may, by the person or persons to whom the same is or are made payable, be assigned, indorsed and made over to such person or persons as shall think fit to accept thereof.