Ohio Code 1307.104 – Negotiable and nonnegotiable document of title – UCC 7-104
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Negotiable and nonnegotiable document of title [UCC 7-104]
Terms Used In Ohio Code 1307.104
- Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
(A) Except as otherwise provided in division (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 division (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.