Uniform Commercial Code - Article 7 -Documents of Title
This video initially reinforces a point made regarding Article 1 and its applicability to all Articles of the Code. Although Article 7 is entitled Documents of Title, the definition is found in Article 1.A document of title can be thought as a piece of commercial paper--tangible or electronic--which represents goods covered by the document. Examples are goods that are shipped via carrier for which a bill of lading would be issued, and warehouse receipts when goods are stored. The form of the document is considered the most important sub classification in Article 7, since the transferree of a negotiable document can obtain greater rights than the transferror had. If you would like to see a more detailed explanation of documents of title via a legal memorandum, you may do so at: http://uccmadeeasybook.com/excerpts/