NEGOTIATION
Known as the Uniform Commercial Code
The act spans §§ 1–12 (616 sections).
Applied in 22 court decisions — leading case Sms Financial Limited Liability Company v. Abco Homes Inc (1999)
Most recently applied in SGK Properties, L.L.C. v. U.S. Bank National Ass'n (February 2018)
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(a) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.
(b) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.