negotiable instrument
negotiable instrument
| Noun | 1. |  negotiable instrument - an unconditional order or promise to pay an amount of money |
| 单词 | negotiable instrument | |||
| 释义 | negotiable instrumentnegotiable instrument
negotiable instrumentnegotiable instrument,bill of exchange, check, promissory note, or other written contract for payment that may serve as a substitute for money. It is simple in form and easy to transfer. Transfer of a negotiable instrument, accomplished by delivery or endorsement and delivery, gives the new holder of the contract the right to enforce fulfillment in his own name. Negotiable instruments made payable to bearer are transferred by delivery; those made payable to order are transferred by endorsement and delivery. Like commercial papercommercial paper,type of short-term negotiable instrument, usually an unsecured promissory note, that calls for the payment of money at a specified date. Because it is not backed by collateral, commercial paper is usually issued by major firms whose credit-rating is so good ..... Click the link for more information. , negotiable instruments were developed to meet the needs of trade. They are used by businessmen to facilitate long-distance transactions and to avoid the constant exchange of large amounts of cash. negotiable instrumentNegotiable InstrumentA Commercial Paper, such as a check or promissory note, that contains the signature of the maker or drawer; an unconditional promise or order to pay a certain sum in cash that is payable either upon demand or at a specifically designated time to the order of a designated person or to its bearer. negotiable instrumentn. check, promissory note, bill of exchange, security, or any document representing money payable which can be transferred to another by handing it over (delivery) and/or endorsing it (signing one's name on the back either with no instructions or directing it to another such as "pay to the order of Pamela Townsend.") (See: check, promissory note, bill of exchange) negotiable instrumentan instrument that constitutes an obligation to pay a sum of money and that is transferable by delivery so that the holder for the time being can sue in his own name. Negotiable instruments represent an exception to the general rule that a person cannot give a better title than he has. The categories of negotiable instrument include the BILL OF EXCHANGE, PROMISSORY NOTES and bearer bonds.negotiable instrumentNegotiable instrumentNegotiablenegotiable instrumentA document signed by the maker or drawer,containing an unconditional promise to pay a certain sum of money on demand or at a definite time to the bearer or to order but without any other promise,order,obligation,or power.(See the Uniform Commercial Code,Article 3.) negotiable instrument
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