12A:7-104. Negotiable and nonnegotiable document of title
12A:7-104. Negotiable and Nonnegotiable Document of Title
a.Except as otherwise provided in subsection c. of this section, a document of title is negotiable if by its terms the goods are to be delivered to the bearer or to the order of a named person.
b.A document of title other than one described in subsection a. of this section is nonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person.
c.A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable.
L.2013, c.65, s.2.
Section: Previous 12a-5-115 12a-5-116 12a-5-117 12a-5-118 12a-7-101 12a-7-102 12a-7-103 12a-7-104 12a-7-105 12a-7-106 12a-7-201 12a-7-202 12a-7-203 12a-7-204 12a-7-205 Next
Last modified: October 11, 2016