Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

negotiable document of title

Read a random definition: Plea colloquy

A quick definition of negotiable document of title:

A negotiable document of title is a written description or declaration of goods that allows the holder to receive, hold, and dispose of both the document and the goods it covers. This type of document, such as a bill of lading or warehouse receipt, is governed by Article 7 of the UCC and stands for the goods it covers. This means that any transfer of the goods requires surrendering the document. In contrast, a non-negotiable document of title only serves as evidence of the goods it covers.

A more thorough explanation:

A negotiable document of title is a written description, identification, or declaration of goods that allows the holder (usually a bailee) to receive, hold, and dispose of the document and the goods it covers. This type of document, such as bills of lading, warehouse receipts, and delivery orders, actually stands for the goods it covers, so any transfer of the goods requires a surrender of the document.

For example, if a company ships a product to a customer and uses a bill of lading as a negotiable document of title, the customer cannot take possession of the product until they surrender the bill of lading to the carrier. This ensures that the carrier only releases the product to the rightful owner.

On the other hand, a non-negotiable document of title merely serves as evidence of the goods it covers. It does not stand for the goods themselves, and any transfer of the goods does not require surrender of the document. An example of a non-negotiable document of title is a receipt for goods stored in a warehouse.

Overall, negotiable documents of title are important in ensuring the proper transfer of goods and protecting the rights of both the seller and buyer.

negotiable certificate of deposit | negotiable note

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.