§ 7.104 Negotiable and nonnegotiable document of title

Codes > Texas Business and Commerce Code > Title 1 > Chapter 7 : Subchapter A > 7.104

Sec. 7.104.  NEGOTIABLE AND NONNEGOTIABLE DOCUMENT OF TITLE. 

    (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:Acts 2005, 79th Leg., Ch. 122, Sec. 1, eff. September 1, 2005.