Negotiable paper

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Related to Negotiable paper: negotiable instrument, bill of exchange

NEGOTIABLE PAPER, contracts. This term is applied to bills of exchange and promissory notes, which are assignable by indorsement or delivery.
     2. The statute of 3 & 4 Anne (the principles of which have been generally adopted in this country, either formally, or in effect,) made promissory notes payable to a person, or to his order, or bearer, negotiable like inland bills, according to the custom of merchants.
     3. This negotiable quality transfers the debt from the party to whom it was originally owing, to the holder, when the instrument is properly indorsed, so as to enable the latter to sue in his own name, both the maker of a promissory note, or the acceptor of a bill of exchange, and the other parties to such instruments, such as the drawer of a bill, and the indorser of a bill or note, unless the holder has been guilty of laches in giving the required notice of non-acceptance or non-payment. But in order to make paper negotiable, it is essential that it be payable in money only, at all events, and not out of a particular fund. 1 Cowen, 691; 6 Cowen, 108; 2 Whart. 233; 1 Bibb, 490, 503; 1 Ham. 272; 3 J. J. Marsh, 174, 542; 3 Halst. 262; 4 Blackf. 47; 6 J. J. Marsh, 170; 4 Mont. 124. See 1 W. C. C. R. 512; 1 Miles, 294; 6 Munf. 3; 10 S. & R. 94; 4 Watts, 400; 4 Whart. R. 252; 9 John. 120; 19 John. 144; 11 Vern. 268; 21 Pick. 140. Vide Promissory note. Vide 3 Kent. Com. Lecture 44; Com. Dig. Merchant, F 15, 16; 2 Hill, R. 59; 13 East, 509; 3 B. & C. 47; 7 Bing. 284; 5 T. R. 683; 7 Taunt. 265, 278; 3 Burr. 1516 6 Cowen, 151.
     4. To render a bill or note negotiable, it must be payable to order, or to bearer. When it is payable "to A B only," it cannot be negotiated so as to give the indorsee a claim against any one but his indorser. Dougl. 615. An indorsement to A B, without adding "or order," is not restrictive to A B alone, he may, therefore, assign it to another; Str. 557; or he may indorse it in blank, when any attempt, afterwards, to restrain its negotiability will be unavailing. Esp. N. P. Cas. 180; 1 Bl. Rep. 295. Vide Blank Indorsement; Indorsement.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
She transforms the good opinion and fine reputation she has within the household (a measure of her worth based on past behavior) into a growing source of credit (faith in her future value and performance).(3) She further invests in herself for herself by creating her own negotiable paper or "paper credit," letters and a journal, which acts as an indicator of her worth.
Yet by mid-century, the figure of the economic man, like forms of negotiable paper, was culturally assimilated into a larger system of national interests.
Ali Salehabadi, head of Tehran Stock Exchange tomorrow leaves for Muscat to sign an MOU aimed at information exchange, expansion of cooperation between the bourse observer institutions, circulation of negotiable papers and other financial documents, holding joint training courses, development of human sources, bilateral admission, removing mutual investment bans.

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