The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied.
Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1.
Editor's note: This section is similar to former § 4-7-506 as it existed prior to 2006.
Prior Uniform Statutory Provision: Former Section 7-506.
Changes: Limited to tangible documents of title.
Purposes:
Cross References:
Point 1: Sections 7-106 and 7-505.
Point 2: Sections 7-501(a)(5) and 7-403(c).
Definitional Cross References:
"Document of title". Section 1-201.
"Rights". Section 1-201.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 7 - Documents of Title
Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer
§ 4-7-501. Form of Negotiation and Requirements of Due Negotiation
§ 4-7-502. Rights Acquired by Due Negotiation
§ 4-7-503. Document of Title to Goods Defeated in Certain Cases
§ 4-7-505. Indorser Not Guarantor for Other Parties
§ 4-7-506. Delivery Without Indorsement - Right to Compel Indorsement
§ 4-7-507. Warranties on Negotiation or Delivery of Document of Title
§ 4-7-508. Warranties of Collecting Bank as to Documents of Title