- Statute
- Civil Code
- Article
- Art. 1508
- Topic
- Obligations of the Vendor
- Status
- In force
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE VI SALES
- Chapter
- CHAPTER 4 Obligations of the Vendor
- Year
- 1949
- Cited by
- Multiple Supreme Court decisions
The provision
A negotiable document of title may be negotiated by delivery: (1) Where by the terms of the document the carrier, warehouseman or other bailee issuing the same undertakes to deliver the goods to the bearer; or (2) Where by the terms of the document the carrier, warehouseman or other bailee issuing the same undertakes to deliver the goods to the order of a specified person, and such person or a subsequent indorsee of the document has indorsed it in blank or to the bearer. Where by the terms of a negotiable document of title the goods are deliverable to bearer or where a negotiable document of title has been indorsed in blank or to bearer, any holder may indorse the same to himself or to any specified person, and in such case the document shall thereafter be negotiated only by the indorsement of such indorsee. (n)
Intellegal Wiki · In plain terms
A negotiable document of title can be transferred by delivery when it calls for the goods to go to the bearer, or to the order of a named person who has indorsed it in blank or to bearer. Once it is deliverable to bearer, any holder may indorse it to a specific person, after which further transfer requires that person's indorsement.
An editorially maintained plain-language explanation of this provision — not legal advice.
Cases applying this article
- Felix Angao v. Nicolas Clavano G.R. No. 5853
- Lino Gonzaga, Demandante-Apelado, Contra Juan Go Y Victorina Cabelin De Go, Demandados-Apelantes G.R. No. 47061
- Cosme Manalo v. Manuel Gueco G.R. No. 16202
- Pedro Magayano v. Tomas Gapuzan G.R. No. 9038