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NEGOTIABLE. That which is capable of being transferred by assignment; a thing, the title to which may be transferred by a sale and indorsement or delivery.
     2. A chose in action was not assignable at common law, and therefore contracts or agreements could not be negotiated. But exceptions have been allowed to this rule in relation to simple contracts, and others have been introduced by legislative acts. So that, now, bills of exchange, promissory notes, bills of lading, bank notes, payable to order, or to bearer, and, in some states, bonds and other specialties, may be transferred by assignment, indorsement, or by delivery, when the instrument is payable to bearer.
     3. When a claim is assigned which is not negotiable at law, such, for example, as a book debt, the title to it remains at law in the assigner, but the assignee is entitled to it in equity, and he may therefore recover it in the assignor's name. See, generally, Hare & Wall. Sel. Dec. 158 to 194 Negotiable paper.

References in periodicals archive ?
Meanwhile, six leading nonlife insurance companies on Friday released their earnings reports for the April-December period, showing appraisal losses on marketable securities totaling 410 billion yen.
One method previously used to avoid excess gain was to purchase and distribute marketable securities instead of cash.
As both A and B achieve diversification in this transaction and E owns only marketable securities, these transfers fall under the TIC rules and must be treated accordingly.
Temporarily restricted net assets consist of cash and investments in marketable securities which represent contributions received in current and prior years restricted by donors to be used for awards and publications.
Life insurance cash flows have many qualities that make them ripe for packaging into marketable securities. Insurance cash flows are generally predictable.
For a corporate taxpayer with a large portfolio of marketable securities, these requirements may necessitate the accumulation of significant amounts of new information that is not currently collected for such short-term investment assets.
These results include $5.1 million from the receipt of marketable securities.
As an example, the purchase of marketable securities in 1999 amounted to 37.8 percent of total cash inflows ($608,300 divided by $1,609,533).
While shorter-term marketable securities could be allowed to run off as they mature, longer-term issues could only be retired before maturity through debt buybacks.
Another huge plus for BNA in its purchase of Kennedy was its exceedingly strong balance sheet with more than $100 million in cash and marketable securities. This made it possible for BNA to purchase Kennedy for such a high multiple over its revenue figure.
* First in terms of balance sheet strength, with virtually no debt and more than $700M (ZAR 4.9B) in cash and marketable securities.
TEPCO, Sony and other would-be participants envision converting those certificates into marketable securities, while obtaining the rights to deal in the rights to discharge carbon dioxide into the air, they said.