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Negotiable instrument: Difference between revisions
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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]]. | 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]]. | ||
=== “A/C payee only” === | |||
The [[JC]] used to keep his chequebook in a draw with spare batteries, mousetraps and dried cannelloni. It is still there, as far as I know. | |||
Fellow senior citizens may remember diligently “crossing” their cheques “not negotiable, account payee only”. | |||
This was, at the time, automatic behaviour. It felt somehow prudent; the sort of thing a [[reasonable person]] would do, though thinking back on it now, for the life of me, I can’t remember why. Why constrain what a fellow merchant would do with ones’s banker’s drafts once they have been handed over? | |||
=== Crypto === | |||
The new generation of [[crypto-currency|crypto-currencies]] (you know, like [[bitcoin]]) may just usher in a new golden era for [[negotiable instrument]]s. We’ll see. | The new generation of [[crypto-currency|crypto-currencies]] (you know, like [[bitcoin]]) may just usher in a new golden era for [[negotiable instrument]]s. We’ll see. | ||