1. (1) A warehouse receipt, bill of lading or other document of title is negotiable:

   1. (a) If by its terms the goods are to be delivered to bearer or to the order of a named person; or
   2. (b) Where recognized in overseas trade, if it runs to a named person or assigns.
2. (2) Any other document is nonnegotiable. A bill of lading in which it is stated 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 a written order signed by the same or another named person.

History.--s. 1, ch. 65-254.

Note.--s. 7-104, U.C.C.; supersedes ss. 678.02-678.05.