Vermont Statutes Title 9 Sec. 7-104
Terms Used In Vermont Statutes Title 9 Sec. 7-104
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 7—104. Negotiable and nonnegotiable document of title
(a) Except as otherwise provided in subsection (c) of this section, 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) of this section 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. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)