U.C.C. - ARTICLE 3 - NEGOTIABLE INSTRUMENTS
..PART 2. NEGOTIATION, TRANSFER, AND INDORSEMENT



§ 3-203. TRANSFER OF INSTRUMENT; RIGHTS ACQUIRED BY TRANSFER.

(a) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the
person receiving delivery the right to enforce the instrument.
(b) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor
to enforce the instrument