41-07-04. (7-104) Negotiable and non-negotiable document of title

41-07-04. (7-104) Negotiable and non-negotiable document of title

1. Except as otherwise provided in subsection 3, 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.

2. A document of title other than one described in subsection 1 is non-negotiable. 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.

3. A document of title is non-negotiable if, at the time it is issued, the document has a

conspicuous legend, however expressed, that it is non-negotiable.