document of title

document of title. A written description, identification, or declaration of goods authorizing the holder (usu. a bailee) to receive, hold, and dispose of the document and the goods it covers. • Documents of title, such as bills of lading, warehouse receipts, and delivery orders, are generally governed by Article 7 of the UCC. See BAILMENT(1)–(3). [Cases: Carriers 51; Warehousemen 11. C.J.S. Carriers § 390; Warehousemen and Safe Depositaries §§ 23, 26–29.]

negotiable document of title. A document of title that actually stands for the goods it covers, so that any transfer of the goods requires a surrender of the document. UCC § 7-104(a). [Cases: Bills and Notes 151; Warehousemen 15. C.J.S. Bills and Notes; Letters of Credit § 131; Warehousemen and Safe Depositaries § 36.]

nonnegotiable document of title. A document of title that merely serves as evidence of the goods it covers. UCC § 7-104(b). [Cases: Warehousemen 15. C.J.S. Warehousemen and Safe Depositaries § 36.]

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词条贡献者

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