Negotiation

negotiation

n. 1) the transfer of a check, promissory note, bill of exchange or other negotiable instrument to another for money, goods, services or other benefit. 2) give-and-take discussion or conference in an attempt to reach an agreement or settle a dispute. (See: negotiable instrument)

NEGOTIATION, contracts The deliberation which takes place between the parties touching a proposed agreement.
     2. That which transpires in the negotiation makes no part of the agreement, unless introduced into it. It is a general rule that no evidence can be given to add, diminish, contradict or alter a written instrument. 1 Dall. 426; 4 Dall. 340; 3 S. & R. 609; 7 S. & R. 114. See Pourparler

NEGOTIATION, merc. law. The act by which a bill of exchange or promissory note is put into circulation by being passed by one of the original parties to another person.
     2. Until an accommodation bill or note has been negotiated, there is no contract which can be enforced on the note: the contract, either express or implied, that the party accommodated will indemnify the other, is, till then, conditional. 2 Man. & Gr. 911.