{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-7-501","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-7-501","heading":"Form of negotiation and requirements of due","body":"negotiation.\n\nForm of Negotiation and Requirements of Due Negotiation.\n\n(a) The following rules apply to a negotiable tangible document\n\nof title:\n\n(1) If the document’s original terms run to the order of a\n\nnamed person, the document is negotiated by the named person’s\n\nendorsement and delivery. After the named person’s endorsement in\n\nblank or to bearer, any person may negotiate the document by\n\ndelivery alone.\n\n(2) If the document’s original terms run to bearer, it is\n\nnegotiated by delivery alone.\n\n(3) If the document’s original terms run to the order of a\n\nnamed person and it is delivered to the named person, the effect is\n\nthe same as if the document had been negotiated.\n\n(4) Negotiation of the document after it has been endorsed to a\n\nnamed person requires endorsement by the named person and delivery.\n\n(5) A document is duly negotiated if it is negotiated in the\n\nmanner stated in this subsection to a holder that purchases it in\n\ngood faith, without notice of any defense against or claim to it on\n\nthe part of any person, and for value, unless it is established that\n\nthe negotiation is not in the regular course of business or\n\nfinancing or involves receiving the document in settlement or\n\npayment of a money obligation.\n\n(b) The following rules apply to a negotiable electronic\n\ndocument of title:\n\n(1) If the document’s original terms run to the order of a\n\nnamed person or to bearer, the document is negotiated by delivery of\n\nthe document to another person. Endorsement by the named person is\n\nnot required to negotiate the document.\n\n(2) If the document’s original terms run to the order of a\n\nnamed person and the named person has control of the document, the\n\neffect is the same as if the document had been negotiated.\n\n(3) A document is duly negotiated if it is negotiated in the\n\nmanner stated in this subsection to a holder that purchases it in\n\ngood faith, without notice of any defense against or claim to it on\n\nthe part of any person, and for value, unless it is established that\n\nthe negotiation is not in the regular course of business or\n\nfinancing or involves taking delivery of the document in settlement\n\nor payment of a monetary obligation.\n\n(c) Endorsement of a nonnegotiable document of title neither\n\nmakes it negotiable nor adds to the transferee's rights.\n\n(d) The naming in a negotiable bill of lading of a person to be\n\nnotified of the arrival of the goods does not limit the\n\nnegotiability of the bill nor constitute notice to a purchaser of\n\nthe bill of any interest of that person in the goods.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3c1b500ef056ba98570054281ada480135d4724a6431303ac2251dcf8a040f90","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-7-404","next":"us-ok/okla.-stat.-tit.-12a-12a-7-502"},"notice":"GroundRules: Original legal text. Not legal advice."}