Negotiable instrument

 

Home
Site Map
Add Term
Search
About Us
Contributors

Negotiable Instrument

According to the Uniform Negotiable Instruments Act, an instrument is negotiable when it is in writing and signed, containing an unconditional promise or order to pay a certain amount of money, on demand, or at a definite future date, to the bearer, to order, or to a named or certain drawee.

Negotiable instrument

An instrument, such as a cheque or a bill of exchange, which can be transferred by one person to another by the first signing his name on the back of the instrument.

Negotiable instrument

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



Negotiable instrument

Similar Matches

Negotiable Order of Withdrawal Account (NOW)

Negotiable Order of Withdrawal Account (NOW)

An interest-earning account on which chechs may be drawn. Withdrawals from NOW accounts may be offered by commerical banks, mutual savings banks, and savings and loan associations and may be owned only by individuals and certain nonprofit organizations and govermental units.


Negotiable certificates of deposit

Negotiable certificates of deposit

Large-denomination bank certificates of deposit that can be traded.


Renegotiable Rate Mortgage

Renegotiable Rate Mortgage

A real property loan calling for an adjustment in the interest rate at a given time. Example: A loan with a 15 year amortization is adjusted to current interest rates after 2 years. The lender agrees to make the adjusted loan at the new rate as long as the old loan is not in default. The Federal Reserve Board allows the original loan to be treated either as a balloon payment loan or a variable rate loan. However, points must be figured into the A.P.R. based on the time or renegotiation (2 years rather than 15).


Not negotiable

Not negotiable

Words written on a bill of exchange or cheque which should prevent encashment following theft. For example if A writes a cheque to B and marks it 'not negotiable', then in the event that the cheque is stolen by C, it could not be cashed since no one can have a good title to it other than B.


Negotiable

Negotiable

A security whose title is transferable by delivery . See also: Negotiable instrument.


Further Suggestions

Negotiable bill of lading
Negotiable order of withdrawal (NOW)
Renegotiable rate


 
All rights Reserved. Do not copy without permission.