- “Negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.
- Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
History. Code 1981, § 11-3-201 , enacted by Ga. L. 1996, p. 1306, § 3.
Law reviews.
For comment on Pendley v. Credit Equip. Corp., 92 Ga. App. 658 , 89 S.E.2d 567 (1955), see 18 Ga. B.J. 495 (1956).
For article discussing judicial activism in cases involving claims and defenses under the Uniform Commercial Code, see 17 Ga. L. Rev. 569 (1983).