Negotiable(redirected from negotiability)
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A negotiable contract is one whose terms can be altered by agreement between the parties to the contract.
For example, when you negotiate the sale of your home, you might be willing to reduce the price, or you might be flexible about the closing date, generally in response to some concessions from the buyer.
Similarly, the interest rate on your mortgage or the number of points you pay might be negotiable with your lender.
A negotiable financial instrument or security is one that can be transferred easily from one party to another by endorsing and delivering the appropriate documentation.
Stock certificates are negotiable, for example, requiring the owner simply to sign the back and deliver the document to an agent. A check is also negotiable, transferring money from the writer to the payee on the basis of a signature and an endorsement.