Delaware Code Title 6 Sec. 7-104 – Negotiable and nonnegotiable document of title
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(a) Except as otherwise provided in subsection (c), 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.
Terms Used In Delaware Code Title 6 Sec. 7-104
- Document: means :
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Delaware Code Title 6 Sec. 7-102
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
(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.
5A Del. C. 1953, §§ ?7-104; 55 Del. Laws, c. 349; 74 Del. Laws, c. 332, § ?39;