Montana Code 30-7-104. Negotiable and nonnegotiable document of title
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30-7-104. Negotiable and nonnegotiable document of title. (1) 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 Montana Code 30-7-104
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Montana Code 30-7-102
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)A document of title other than one described in subsection (1) 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 a written order signed by the same or another named person.
(3)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.