California Commercial Code

§ 7504

COM § 7504 Effective Jan 1, 2007Div. 7 · Ch. 5

Statute text

(a)A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated, acquires the title and rights that its transferor had or had actual authority to convey.

(b)In the case of a transfer of a nonnegotiable document of title, until but not after the bailee receives notice of the transfer, the rights of the transferee may be defeated:

(1)by those creditors of the transferor which could treat the transfer as void under Section 2402 or 10308;

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Legislative history

Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.