400.7-104. Negotiable and nonnegotiable warehouse receipt, bill of lading or other document of title. — (1) A warehouse receipt, bill of lading or other document of title is negotiable
(a) if by its terms the goods are to be delivered to bearer or to the order of a named person; or
(b) where recognized in overseas trade, if it runs to a named person or assigns.
(2) Any other document is nonnegotiable. A bill of lading in which it is stated 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 a written order signed by the same or another named person.
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(L. 1963 p. 503 § 7-104)
---- end of effective 28 Aug 1963 ----
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| 400.7-104 | 8/28/2017 | |||
| 400.7-104 | 8/28/1963 | 8/28/2017 | ||
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