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Texas Business & Commerce Code

§ 7.104 — NEGOTIABLE AND NONNEGOTIABLE DOCUMENT OF TITLE

BC § 7.104Title 1. UNIFORM COMMERCIAL CODE · Ch. 7. DOCUMENTS OF TITLE · Art. A. GENERAL PROVISIONS

Statute text

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(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. Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Amended by:

Legislative history

Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 1, eff. September 1, 2005.

Source: Texas Business & Commerce Code § 7.104 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.