Template:M intro repack negotiable instrument: Difference between revisions
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At a high level, debt securities closely resemble promissory notes. They are a form of securitised [[loan]]. | At a high level, debt securities closely resemble promissory notes. They are a form of securitised [[loan]]. | ||
===Negotiability=== | ===Negotiability=== | ||
All this is further confused if the holder of a bill of exchange is entitled to negotiate it — to sell it, effectively, in the secondary market to a random third party. | All this is further confused if the holder of a bill of exchange is entitled to negotiate it — to sell it, effectively, in the secondary market to a random third party. |