Negotiation
Known as the Uniform Commercial Code
The act spans §§ 46–46 (630 sections).
Applied in 1 court decision — leading case 187 W. Va. 591 - O'Mara Enterprises, Inc. v. People's Bank of Weirton (1992)
Most recently applied in 187 W. Va. 591 - O'Mara Enterprises, Inc. v. People's Bank of Weirton (June 1992)
(a) "Negotiation" means a transfer of possession, whether voluntary or involuntary, or 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: West Virginia Legislature. Reproduced from public-domain West Virginia statutes; confirm against the official source for the current text. Not legal advice.