Negotiable

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Related to negotiables: endorsee, non-negotiable

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 classic literature ?
And lent him our money upon bills, with only one name besides his own, which to be sure everybody supposed to be a good one, and was as negotiable as money, but which turned out you know how.
"I never knew a quiet moment until I had sold two-thirds of my diamonds in London or Amsterdam, and held the value of my gold dust in a negotiable shape.
Non Negotiable: The Story of Happy State Bank & the Power of Accountability