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.
This labyrinth of seeming self-contradictions in the UCC can be aligned by an interpretation of Article 3 that is consistent with prior negotiable instrument law.
Counterfeiters duplicate corporate and payroll checks, traveler's checks, credit cards, certified bank checks, money orders, currency, and other negotiable instruments, as well as personal identification.
953 (2009) (requiring originals of negotiable instruments be received in evidence); Lenfest v.
Knowledge of state law is especially important, particularly concerning negotiable instruments, wages and taxes.
E-Z rules for negotiable instruments (UCC articles 3 and 4); with other selected UCC provisions.
They explain contracts, including performance, discharge and remedies, and describe a full range of commercial transactions, including creating a negotiable instrument and the liabilities inherent in them.
eOriginal's system is the only electronic negotiable instrument solution today fully compliant with both E-Sign and Uniform Electronic Transaction Act (UETA) legislation.
Check 21 creates a new negotiable instrument, the "substitute check," which can be used for proof of payment and has all the legal properties of the original.
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015.
Written by knowledge leaders in the fields of law and cryptocurrency, The Law of Bitcoin addresses such topics as the intersection of cryptocurrencies and criminal law, taxation, anti-money laundering and counter-terrorist financing regulations, securities law, consumer protection, negotiable instruments, currency law and financial regulation.