negotiable instrument

A written instrument that (1) is signed by the maker or drawer, (2) includes an unconditional promise or order to pay a specified sum of money, (3) is payable on demand or at a definite time, and (4) is payable to order or to bearer. UCC § 3-104(a).

— Also termed negotiable paper; negotiable note.

• Among the various types of negotiable instruments are bills of exchange, promissory notes, bank checks, certificates of deposit, and other negotiable securities. [Cases: Bills and Notes 5, 144–175. C.J.S. Bills and Notes; Letters of Credit §§ 3–4, 9, 127–138, 143, 148, 155, 159.]

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词条贡献者

法律翻译Peter，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与能源与矿业有关的法律文件。