California Commercial Code 7506 – The transferee of a negotiable tangible document of title has a …
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The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied.
(Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.)
Terms Used In California Commercial Code 7506
- Document of title: includes a bill of lading, dock warrant, dock receipt, warehouse receipt, or order for the delivery of goods, and also any other document which in the regular course of business or financing is treated as adequately evidencing that the person in possession of it is entitled to receive, hold, and dispose of the document and the goods it covers. See California Commercial Code 1201
- Right: includes remedy. See California Commercial Code 1201