|
|
Negotiable instrument |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Negotiable InstrumentAccording 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 instrumentAn 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 instrumentAn unconditional order or promise to pay some amount of money, easily transferable from one party to another.Negotiable instrument Similar MatchesNegotiable bill of ladingNegotiable bill of ladingContract that grants title of merchandise to the holder, which allows banks to use the merchandise as collateral. Renegotiable Rate MortgageRenegotiable Rate MortgageA 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). Negotiable certificates of depositNegotiable certificates of depositLarge-denomination bank certificates of deposit that can be traded. Not negotiableNot negotiableWords 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. NegotiableNegotiableA security whose title is transferable by delivery . See also: Negotiable instrument. Further SuggestionsNegotiable Order of Withdrawal Account (NOW)Negotiable order of withdrawal (NOW) Renegotiable rate |
|
|
|