Negotiable Bill of Lading Law and Legal Definition

Negotiable bill of lading is a bill of lading in which it is declared that the goods are consigned or destined to the order of any person stated in such bill. It is a bill of lading according to the terms of which the goods are to be conveyed to bearer or to the order of a named person, or where recognized in overseas trade, if it runs to a named person or assigns.