KB Version 2

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1. ~ with respect to a negotiable instrument, means the person in possession if the instrument is payable to bearer or, in the case of an instrument payable to an identified person, if the identified person is in possession.
2. ~ with respect to a document of title means the person in possession if the goods are deliverable to bearer or to the order of the person in possession.

Printed from http://uccstuff.com?function=display&id=ID080400.