negotiable instrument

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Negotiable Instrument

A Commercial Paper, such as a check or promissory note, that contains the signature of the maker or drawer; an unconditional promise or order to pay a certain sum in cash that is payable either upon demand or at a specifically designated time to the order of a designated person or to its bearer.

negotiable instrument

n. check, promissory note, bill of exchange, security, or any document representing money payable which can be transferred to another by handing it over (delivery) and/or endorsing it (signing one's name on the back either with no instructions or directing it to another such as "pay to the order of Pamela Townsend.") (See: check, promissory note, bill of exchange)

negotiable instrument

noun bank check, bank note, bank paper, bill, bill of exchange, cashier's check, check, commercial instrument, commercial paper, commercial transition, debenture, draft, negotiable paper, note, personal check, promissory note
Associated concepts: dishonor, named payee presentment
See also: coupon, debenture, draft, letter of credit, note, security, stock

negotiable instrument

an instrument that constitutes an obligation to pay a sum of money and that is transferable by delivery so that the holder for the time being can sue in his own name. Negotiable instruments represent an exception to the general rule that a person cannot give a better title than he has. The categories of negotiable instrument include the BILL OF EXCHANGE, PROMISSORY NOTES and bearer bonds.
References in periodicals archive ?
Accordingly, the Negotiable Instruments (Amendment) Bill, 2015 ( the Bill ) in Parliament was introduced in Lok Sabha on 6th May, 2015 and considered and passed by Lok Sabha on 13th May, 2015.
Anyone can indorse a check, and checks, unlike some earlier types of negotiable instruments, are payable on demand, or without delay.
Payette also makes an effort to consider, if only summarily, the impact of a wide range of devices such as compensation, subrogation, actual possession of a negotiable instrument, seizing creditor's priority, and the Paulian action that indirectly, or by ricochet, generate an execution preference (nos.
The eOriginal core technology components and architecture, eCore, will also be able to be licensed by enterprise companies to create, execute, store, trade, transfer and syndicate legally enforceable, electronic negotiable instruments and source records using existing enterprise applications platforms.
The Eighth Circuit disagreed and held that the doctrine of constructive receipt as developed in the Code takes precedence over the law of negotiable instruments.
The Negotiable Instruments Law of the People's Republic of China was enacted on May 10, 1995, by the Eighth Standing Committee of the National People's Congress, the highest legislative body of the People's Republic of China (PRC).
Counterfeiters duplicate corporate and payroll checks, traveler's checks, credit cards, certified bank checks, money orders, currency, and other negotiable instruments, as well as personal identification.
Historically, the fundamental law governing checks and bank deposits has been state law, Articles 3 and 4 of the Uniform Commercial Code, and the Uniform Negotiable Instruments Act before the Uniform Commercial Code, and the common law before that.
The Ordinance, which will amend the Negotiable Instruments Act, will enable filing of cases related to bounced cheques in the place where the cheque was presented for clearance or payment and not the place where it was issued.
Enumerating his priority areas, he, further, said that National Litigation Policy is being formulated and amendments in Motor Vehicles Act and Negotiable Instruments Act, Arbitration and Conciliation Acts are being taken up.
AAMPLE applicants are enrolled in two law school courses - Introduction to the 4th Amendment and Negotiable Instruments, taught by law school professors.
This text/reference can be used for a course on payment systems and negotiable instruments, or for a survey course on commercial transactions; it can also be used independently for review.