Negotiable instrument: Difference between revisions

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-{{essay|repack|negotiable instrument|{{image|Stradivarius|jpg|An expensive musical instrument, yesterday}} }}{{quote|
+{{essay|repack|negotiable instrument|{{image|Stradivarius|jpg|An expensive musical instrument, yesterday}} }}
-''So I took my [[Negotiable cow|cow]] <br>
-''And I cashed it against the wall. <br>
-''I cashed it against the floor. <br>
-''I cashed it against the body of a varsity cheerleader. <br>
-''Cashed it against the hood of a car. <br>
-''Cashed it against a 1981 Harley-Davidson. <br>
-''And I ran upstairs to my parents’ bedroom, where<br>
-''Mommy and Daddy were sleeping quietly in the moonlight.
-''Slowly I opened the door — <br>
-''Creeping into the shadows, right up to the foot of their bed,  <br>
-''I raised the cow high above my head, <br>
-''And just as I was about to bring it crashing down —<br>
-''My father woke up, screaming “STOP!!” <br>
-''“Wait a minute! Stop it, boy! What do you think you’re ''doing''?” <br>
-''“That’s no way to treat an [[Negotiable cow|expensive negotiable instrument]]!” <br>
-''And I said, “Goddamn it, Daddy: you ''know'' I love you,” <br>
-''“But you’ve got a hell of a lot to learn about Rock ’n’ Roll.” <br>
-:—Jim Steinman,  ''Love, Death and an American Milking Devon''}}
-{{d|Negotiable instrument|/nɪˈgəʊʃiəbəl ˈɪnstrʊmənt/|n|
-[[File:Negotiable cow.jpg|450px|thumb|center|A [[negotiable instrument]] yesterday.]]
-}}An instrument conferring a right to a payment of money or the delivery assets which the [[bearer security|bearer]] can, without the [[issuer]]’s consent, transfer to a third party (a process known as, confusingly, as “[[negotiate|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 — well, [[Negotiable cow|large ruminant herbivores]]<ref>[[Mansuetae naturae]], needless to say.</ref> — which did not count as [[securities]] but were nonetheless [[negotiable]].