1307.04 Negotiable and non-negotiable warehouse receipt, bill of lading, or other document of title - UCC 7-104.
1307.04 Negotiable and non-negotiable warehouse receipt, bill of lading, or other document of title - UCC 7-104.
(A) A warehouse receipt, bill of lading, or other document of title is negotiable:
(1) if by its terms the goods are to be delivered to bearer or to the order of a named person; or
(2) where recognized in overseas trade, if it runs to a named person or assigns.
(B) 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.
Effective Date: 07-01-1962