1. A warehouse receipt, bill of lading or other document of title is negotiable
a. if by its terms the goods are to be delivered to bearer or to the order of a named person; or
b. where recognized in overseas trade, if it runs to a named person or assigns.
2. Any other document is nonnegotiable. A bill of lading in which it is stated 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.
[S13, § 3138-a2-a5, -a7, -b1-b4, -b7, -b8, -b52; C24, 27, 31, 35, 39, § 8246-8249, 8253, 8254, 8297, 9662-9665, 9667, 9956, 9959, 10005; C46, 50, 54, 58, 62, § 487.2-487.5, 487.8, 487.9, 487.54, 542.2-542.5, 542.7, 554.28, 554.31, 554.77; C66, 71, 73, 75, 77, 79, 81, § 554.7104]
Previous Section 554.7103
Next Section 554.7105
© 1999 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Mar 18 15:00:31 CST 1999
URL: /DOCS/IACODE/1999/554/7104.html
jhf