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(1) A warehouse receipt, bill of lading or other document of title is negotiable
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(a) if by its terms the goods are to be delivered to bearer or to the order of a named person; or
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(b) where recognized in overseas trade, if it runs to a named person or assigns.
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(2) Any other document is non-negotiable. 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.