8.3A-201 - A-201. Negotiation. - Virginia Statutes

§ 8.3A-201. Negotiation.

(a) "Negotiation" means a transfer of possession, whether voluntary orinvoluntary, of an instrument by a person other than the issuer to a personwho thereby becomes its holder.

(b) Except for negotiation by a remitter, if an instrument is payable to anidentified person, negotiation requires transfer of possession of theinstrument and its endorsement by the holder. If an instrument is payable tobearer, it may be negotiated by transfer of possession alone.

(Code 1950, §§ 6-382 through 6-384; 1964, c. 219, § 8.3-202; 1992, c. 693.)