§ 7-506 — Delivery without indorsement: right to compel indorsement

Illinois § 7-506

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 810: COMMERCIAL CODE
• Act 810 ILCS 5/: Uniform Commercial Code.
• Art.: Article 7 - Documents of Title

Text

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.

Legislative History

(Source: P.A. 95-895, eff. 1-1-09.)