Wis. Stat. § 407.104
Negotiable and nonnegotiable document of title
Redline — January 1, 2003 → current.View current text →
Current — January 1, 2009
As of January 1, 2003
(1) A warehouse receipt, bill of lading or other document of title is negotiable: (a) If by its terms the goods are to be delivered to bearer or to the order of a named person; or (b) Where recognized in overseas trade, if it runs to a named person or assigns.
(1) Except as provided in sub. (3) , 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.
(2) Any other document is nonnegotiable. 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.
(2) A document of title other than one described in sub. (1) 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.
(3) 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: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.