7 104

(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.