1404

(1) A warehouse receipt, bill of lading or other document of title is negotiable\n(a) If by its terms the goods are to be delivered to bearer or to the order of a named person, or\n(b) where recognized in overseas trade, if it runs to a named person or assigns.\n(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.\nHistory —Aug. 17, 1995, No. 208, added as § 7-104 on Sept. 19, 1996, No. 241, § 11.