§ 25-7-104. Negotiable and nonnegotiable document of title. - North Carolina Statutes

§ 25‑7‑104. Negotiable and nonnegotiable document of title.

(a)        Except as otherwiseprovided in subsection (c) of this section, a document of title is negotiableif by its terms the goods are to be delivered to bearer or to the order of anamed person.

(b)        A document of titleother than one described in subsection (a) of this section is nonnegotiable. Abill of lading that states that the goods are consigned to a named person isnot made negotiable by a provision that the goods are to be delivered only againstan order in a record signed by the same or another named person.

(c)        A document of titleis nonnegotiable if, at the time it is issued, the document has a conspicuouslegend, however expressed, that it is nonnegotiable. (Rev., s. 3032; 1917, c. 37,ss. 4, 7; 1919, c. 65, ss. 3, 6, 7; C.S., ss. 285, 288, 289, 4044, 4045; 1965,c. 700, s. 1; 2006‑112, s. 25.)