Sec. 7506.
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.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 2012, Act 87, Eff. July 1, 2013
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title (440.7101...440.7702)
Section 440.7501 - Negotiable Document of Title; Indorsement; Notice of Arrival.
Section 440.7502 - Negotiation; Rights Acquired.
Section 440.7503 - Documents of Title to Goods; Defeat in Certain Cases.
Section 440.7505 - Documents of Title; Liability of Indorser.
Section 440.7507 - Documents of Title; Warranties on Negotiation or Delivery for Value.
Section 440.7508 - Documents of Title; Warranties of Collecting Bank.