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Simple English definitions for legal terms

negotiable document of title

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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

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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