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| {{essay|repack|negotiable instrument|{{image|Stradivarius|jpg|An expensive musical instrument, yesterday}} }} | | {{essay|repack|negotiable instrument|{{image|Stradivarius|jpg|An expensive musical instrument, yesterday}}{{image|Negotiable cow|A [[negotiable instrument]] yesterday.}} }} |
| | | ==The way we lived then== |
| | | Used to some comic effect in {{author|Anthony Trollope}}’s amusing Victorian door-stop, {{br|The Way We Live Now}}: |
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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]].
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| === “A/C payee only” ===
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| 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. | |
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| Fellow senior citizens may remember diligently “crossing” their cheques “not negotiable, account payee only”.
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| 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?
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| === Crypto ===
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| 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.
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| An old-fashioned form of [[negotiable instrument]] — a fancy way of saying [[IOU]] really — where in lieu of paying something, a fellow issues a piece of paper with a promise to pay it at a later date. Used to some comic effect in {{author|Anthony Trollope}}’s amusing Victorian door-stop, {{br|The Way We Live Now}}:
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