11-7-104. Negotiable and nonnegotiable document of title.
123 words·~1 min read·
/ga/title-11-commercial-code/part-1-general/11-7-104·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided in subsection
(c)of this Code section, a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person.
A document of title other than one described in subsection
(a)of this Code 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.
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.