Tex. Bus. & Com. Code § 7.104

NEGOTIABLE AND NONNEGOTIABLE DOCUMENT OF TITLE

Known as the Uniform Commercial Code

The act spans §§ 1–12 (616 sections).

Applied in 1 court decision — leading case R. E. Huntley Cotton Co. v. Fields (1977)

Most recently applied in R. E. Huntley Cotton Co. v. Fields (April 1977)

Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff

(a) 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.

(b) A document of title other than one described in Subsection (a) 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.

(c) 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.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.