negotiable instrument

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Negotiable instrument

An unconditional order or promise to pay some amount of money, easily transferable from one party to another.

Negotiable

A security that may be bought or sold. Generally, a negotiable security is traded on the secondary market, but the initial sale takes place on the primary market. Negotiable securities may be low-risk, such a Treasury bonds, or high-risk, such as stocks. They are also known as marketable securities. See also: Nonmarketable security.

negotiable instrument

A 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.)

References in periodicals archive ?
When negotiable instruments were first developed, the signatures of the relevant parties were crucial in verifying the authenticity of the instrument involved.
It is the only company that offers a complete, comprehensive and integrated solution capable of creating Electronic Originals that are legally accepted as the electronic equivalent of negotiable instruments and insured by a respected global insurance provider, and the only e-commerce solution that fully complies with all six transferable record criteria of E-Sign and Uniform Electronic Transactions Act (UETA) legislation.
While the Negotiable Instruments Law constitutes a comprehensive financial statute,(13) it is perhaps more significant for what it does not address than for what it does.
The variety of check fraud schemes perpetrated throughout the country ranges from depositing single stolen checks to counterfeiting thousands of negotiable instruments and processing them through hundreds of bank accounts.
The Negotiable Instruments ( Amendment) Act, 2015, was passed in the Lok Sabha in May seeking to overturn the apex court ruling.
Its purpose is to facilitate the declaration of information regarding physical transportation of currency and bearer negotiable instruments entering, transiting or leaving Luxembourg.
Contemporary negotiable instruments law developed hundreds of years ago, before every important institution of the modern financial world: incorporated banks, business corporations, developed capital markets, global monetary systems, electronic transfers, and even paper currency.
The BSP, after assuming power in 2007, had notified a holiday under Negotiable Instruments Act on Nirvan Diwas (death anniversary) of Kanshi Ram.
The administrator recently filed cases with the Negotiable Instruments Committee (NIC) in Saudi Arabia against Saad Trading for $117 million, as well as Abdul Aziz Al Sanea for $54 million for defaults on loans advanced by TIBC.
Concurrently, the bank's respective long- and short-term financial institution ratings have been reaffirmed at AA2 and P1; the AA3 rating of its RM200 million Subordinated Negotiable Instruments of Deposit (Sub-NIDs) has also been reaffirmed.
Juris Publishing (Huntington, NY) has published The New Law of Negotiable Instruments, an 800-page volume that is designed to assist practitioners in identifying the ambiguities inherent in the law of negotiable securities.
Flint Ink Corporation, Ann Arbor, MI, and the SICPA Group, Lausanne, Switzerland have reportedly agreed in principle to several business transactions by which Flint Ink will acquire SICPA's worldwide heatset and coldset inks business and SICPA will acquire Flint Ink's worldwide security inks business, that is, inks used for printing currency, stamps and other negotiable instruments.