{"data":{"id":"us-or/ors-77.1040","jurisdiction":"us-or","citation":"ORS 77.1040","heading":"Negotiable and nonnegotiable document of title.","body":"(1) Except as otherwise provided in subsection (3) of this section, a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person.\n      (2) A document of title other than one described in subsection (1) of this section is nonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person.\n      (3) A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable.","path":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 77 — Warehouse Receipts, Bills of Lading and Other Documents of Title"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors077.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:11Z","sha256":"19e8c508c3af27969a513286234448b3fe5b2228c6a98294e04612311295361b","source_id":"us-or","stale":false,"prev":"us-or/ors-77.1030","next":"us-or/ors-77.1050"},"notice":"GroundRules: Original legal text. Not legal advice."}