Negotiable instrument: Difference between revisions

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-{{a|glossary|}}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 “[[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 so on, which did not count as [[securities]] but were nonetheless [[negotiable]].
+{{def|Negotiable instrument||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, large ruminant herbivores<ref>[[Mansuetae naturae]], needless to say.</ref> — which did not count as [[securities]] but were nonetheless [[negotiable]].
 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.
 {{sa}}
+*[[The negotiable cow]]
 *[[promissory note]]  for an amusing passage from {{author|Anthony Trollope}}’s {{br|The Way We Live Now}}.
 *[[Rome II]] which excludes from its ambit [[non-contractual dispute]]s arising out of the negotiable nature of [[negotiable instrument|negotiable instruments]].
 *[[Bitcoin]]