12A:7-104 - Negotiable and non-negotiable warehouse receipt, bill of lading or other document of title
12A:7-104. Negotiable and non-negotiable 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 non-negotiable. 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.
L.1961, c. 120, s. 7-104.
(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 non-negotiable. 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.
L.1961, c. 120, s. 7-104.