2001 Minnesota Statutes

     336.7-501 Form of negotiation and requirements of "due 
  negotiation."  

    (1) A negotiable document of title running to the order of 
 a named person is negotiated by the named person's endorsement 
 and delivery.  After the named person's endorsement in blank or 
 to bearer any person can negotiate it by delivery alone.  

    (2) (a) A negotiable document of title is also negotiated 
 by delivery alone when by its original terms it runs to bearer; 

    (b) when a document running to the order of a named person 
 is delivered to the named person the effect is the same as if 
 the document had been negotiated.  

    (3) Negotiation of a negotiable document of title after it 
 has been endorsed to a specified person requires endorsement by 
 the special endorsee as well as delivery.  

    (4) A negotiable document of title is "duly negotiated" 
 when it is negotiated in the manner stated in this section to a 
 holder who purchases it in good faith without notice of any 
 defense against or claim to it on the part of any person and for 
 value, unless it is established that the negotiation is not in 
 the regular course of business or financing or involves 
 receiving the document in settlement or payment of a money 
 obligation.  

    (5) Endorsement of a nonnegotiable document neither makes 
 it negotiable nor adds to the transferee's rights.  

    (6) The naming in a negotiable bill of a person to be 
 notified of the arrival of the goods does not limit the 
 negotiability of the bill nor constitute notice to a purchaser 
 thereof of any interest of such person in the goods.  

    HIST: 1965 c 811 s 336.7-501; 1986 c 444