negotiable

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negotiable

adjective alienable, assignable, capable of being transferred, consignable, conveyable, interchangeable, maneuverable, marketable, salable, transferable, transmissible, transmittible, vendible
Associated concepts: commercial paper, negotiable contract, negotiable instruments, promissory note
See also: assignable, conditional, heritable

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 ?
One method previously used to avoid excess gain was to purchase and distribute marketable securities instead of cash.
As of September 30, 2009, Clarus' cash, cash equivalents and marketable securities were $83.
Neither is lack of marketability, because a hypothetical willing buyer would not examine what he or she would pay for the unmarketable interest in the IRAs, but instead would consider what a willing buyer would pay for the underlying marketable securities.
First half earnings were also affected by a pretax loss of $554,000 stemming from a decline in the market valuation of the Company's marketable securities.
For purposes of section 731(a)(1) (and IRC section 737), money generally now includes marketable securities.
9/1/04, aff'gTC Memo 2002-246, the decedent, age 95, transferred substantially all of his assets (primarily, marketable securities and personal notes) to two FLPs.
However, the proposal would virtually eliminate the use of LOCOM (lower of cost or market value) accounting for marketable securities and would reduce the number and amount of debt securities that financial institutions and other entities can include in their investment category.
However, the underlying marketable securities could be subjected to this test.
EPIX expects that its existing cash and marketable securities together with the expected revenue from the collaboration announced today and existing partnerships will be sufficient to fund operations through 2008.
OMX is also paying a preliminary cash consideration equal to EV's surplus cash and marketable securities of ISK 409 million (approximately SEK 41 million).
The decedent's son and son-in-law each contributed real property and/or marketable securities to one of the FLPs in exchange for their respective interests.