negotiable instrument

negotiable instrument
Literally, an instrument having the transferable quality known as negotiability. An instrument, constituting a valid contract, for the payment of money in a certain, definite sum, to order or bearer, on demand, at sight, or in a certain time, or on the happening of an event which must occur, and payable absolutely, not on a contingency. 11 Am J2d B & N § 56. An instrument in writing signed by the maker or drawer; containing an unconditional promise or order to pay a sum certain in money; payable on demand, or at a fixed or determinable future time; payable to order or to bearer; and where addressed to a drawee, the latter is named or otherwise indicated with reasonable certainty. Uniform Negotiable Instruments Law § 1; Anno: 44 ALR2d 57, § 11. An instrument signed by the maker or drawer; containing an unconditional promise or order to pay a sum certain in money and no other promise, order, obligation, or power given by the maker or drawer except as authorized by statute; payable on demand or at a definite time; and payable to order or to bearer. UCC § 3-104(1). A bill of exchange, draft, check, promissory note, certificate of deposit, bearer bond, or other instrument to which there is extended the quality of negotiability by the Uniform Commercial Code or other statute. 11 Am J2d B & N § 6.

Ballentine's law dictionary. . 1998.

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  • negotiable instrument — n: a transferable instrument (as a note, check, or draft) containing an unconditional promise or order to pay to a holder or to the order of a holder upon issue, possession, demand, or at a specified time was determined to be a holder in due… …   Law dictionary

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  • negotiable instrument — An unconditional order or promise to pay some amount of money, easily transferable from one party to another. Bloomberg Financial Dictionary * * * negotiable instrument negotiable instrument ➔ instrument * * * negotiable instrument UK US noun [C] …   Financial and business terms

  • Negotiable Instrument — A document that promises payment to a specified person or the assignee. The payee (the person who receives the payment) must be named or otherwise indicated on the instrument. A check is considered a negotiable instrument. This type of instrument …   Investment dictionary

  • negotiable instrument — A document of title that can be freely negotiated (see negotiability). Such documents are cheques and bills of exchange, in which the stated payee of the instrument can negotiate the instrument by either inserting the name of a different payee or …   Accounting dictionary

  • negotiable instrument — A document of title that can be freely negotiated (see negotiability). Such documents are cheques and bills of exchange, in which the stated payee of the instrument can negotiate the instrument by either inserting the name of a different payee or …   Big dictionary of business and management

  • negotiable instrument —    A written document (i.e., instrument) that absolutely promises payment to its owner of a specific sum of money at a specific time or on demand. Negotiable instruments include checks, bills of exchange, securities and promissory notes. In broad …   Business law dictionary

  • negotiable instrument — Transferable document (e.g., a bank note, check, or draft) containing an unconditional promise or order to pay a specified amount to its holder upon demand or at a specified time. In the U.S., the Uniform Commercial Code governs negotiable… …   Universalium

  • negotiable instrument — noun an unconditional order or promise to pay an amount of money • Topics: ↑law, ↑jurisprudence • Hypernyms: ↑legal document, ↑legal instrument, ↑official document, ↑instrument • …   Useful english dictionary

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