Negotiability

Or a financial instrument, its ease of legal transferability, especially without the cooperation of the instrument’s obligor. An instrument can be negotiable even if not easily transferred physically, as A. P. Herbert’s magical tale of the Negotiable Cow (pictured right) makes clear.

Banking basics A recap of a few things you’d think financial professionals ought to know →Go uptown A bond yesterday. Another negotiable instrument yesterday Index: Click ᐅ to expand: Banking Mythology Office life Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

See also

• Bond
• Coupon
• The curious structure of an MTN