Negotiable instrument: Difference between revisions

Revision as of 10:29, 28 December 2018

A legal right to payment or assets which the bearer can, without the consent of the issuer, transfer to a third party (a process known as “negotiating”). These days, negotiable instruments are more or less the same as transferable securities, but in the good old days banker’s drafts, cheques, bills of exchange, promissory notes and so on, which did not count as securities but were nonetheless negotiable.

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-A legal right to payment or assets which the [[bearer security|bearer]] can, without the consent of the issuer, transfer to a third party (a process known as “negotiating”). These days, [[negotiable instrument]]s are more or less the same as [[transferable securities]], but in the good old days [[banker’s draft]]s, [[cheque|cheques]] and so on, which did not count as securities but were nonetheless [[negotiable]].
+A legal right to payment or assets which the [[bearer security|bearer]] can, without the consent of the issuer, transfer to a third party (a process known as “negotiating”). These days, [[negotiable instrument]]s are more or less the same as [[transferable securities]], but in the good old days [[banker’s draft]]s, [[cheque|cheques]], [[bill of exchange|bills of exchange]], [[promissory note]]s and so on, which did not count as [[securities]] but were nonetheless [[negotiable]].
+{{seealso}}
+*[[promissory note]]  for an amusing passage from {{author|Anthony Trollope}}’s {{br|The Way We Live Now}}.