Negotiable Instrument
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A Negotiable Instrument is a transferable contract that ...
- Example(s):
- See: Check Kiting Fraud.
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/negotiable_instrument Retrieved:2020-8-4.
- A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings depending on the use of the term as it is used in the application of different laws, and depending in which country and context it is used.
2019
- https://www.investopedia.com/terms/n/negotiable-instrument.asp
- QUOTE: ... A negotiable instrument is a signed document that promises a sum of payment to a specified person or the assignee. In other words, it is a formalized type of IOU: A transferable, signed document that promises to pay the bearer a sum of money at a future date or on-demand. The payee, who is the person receiving the payment, must be named or otherwise indicated on the instrument.
Because they are transferable and assignable, some negotiable instruments may trade on a secondary market. ...
- QUOTE: ... A negotiable instrument is a signed document that promises a sum of payment to a specified person or the assignee. In other words, it is a formalized type of IOU: A transferable, signed document that promises to pay the bearer a sum of money at a future date or on-demand. The payee, who is the person receiving the payment, must be named or otherwise indicated on the instrument.