negotiable instrument


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negotiable 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
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, 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.
References in periodicals archive ?
They have lawyers who can sort out whether calling air miles a negotiable instrument is reasonable.
As the negotiable instrument, it was of utmost importance to design electronic mortgages to meet and comply with the requirements of the Uniform Commercial Code (UCC) and the eSignature laws.
6 million) with its new investment product the AmAdvantage Plus Islamic Negotiable Instrument of Deposit.
110, requires employers to pay workers with a negotiable instrument that is "payable without discount in cash at some bank or other established place of business in the county where the same is issued.
Initially, a negotiable instrument could be transferred only by an indorsement or signature of the payee.
Payette also makes an effort to consider, if only summarily, the impact of a wide range of devices such as compensation, subrogation, actual possession of a negotiable instrument, seizing creditor's priority, and the Paulian action that indirectly, or by ricochet, generate an execution preference (nos.
The decision to address negotiable instrument usage in a limited fashion reflects a tension in the Chinese government's present approach to reform: to what degree should the state control economic activity?
The Bid Guarantee Shall Consist Of A Firm Commitment Such As A Bid Bond, Certified Check, Or Other Negotiable Instrument Accompanying The Proposal As Assurance That The Proposer Will, Upon Acceptance Of His Proposal, Execute Such Services As Required.
The powerful combination of DocuSign and eOriginal allows Pawnee to manage chattel, loan documents and any negotiable instrument or critical assets 100 percent electronically.
The receipt is a negotiable instrument and farmers could encash it at any nearby bank branch and thus it will ensure the fastest and easiest access to fund for their consumption and preparation for next cultivation session.
Examination of the original purposes of negotiability, as well as recent changes to the Uniform Commercial Code, leads to the conclusion that mere possession of a negotiable instrument (the promissory note) is insufficient to enforce a mortgage.
Another holiday - but not under Negotiable Instrument Act - was declared on Kanshi Ram's birthday, on March 15.