An unconditional written order or promise to pay a certain sum of money The instrument must be easily transferable from one party to another Every negotiable instrument must meet all the requirements of Article 3 of the Uniform Commercial Code (UCC)
A draft or promissory note that is in writing, signed by the maker or drawer, contains an unconditional promise or order to pay a definite sum of money on demand or at a determinable future date, and is payable to order or to bearer A "holder in due course" of a negotiable instrument is entitled to payment despite any personal disagreements between drawee and maker
Transferable document (e.g., a bank note, check, or draft) containing an unconditional promise or order to pay a specified amount to its holder upon demand or at a specified time. In the U.S., the Uniform Commercial Code governs negotiable instruments
1 A writing signed by the maker or drawer, containing an unconditional promise or order to pay a specific sum, payable on demand or at a definite time, and payable to order or to bearer A draft, check certificate of deposit, and note may or may not be negotiable instruments, depending upon whether the elements of negotiability are satisfied An ordinary check issued by an employer to an employee or by a customer to a store is a negotiable instrument
A written promise or order to pay a specific sum of money that may be transferred by endorsement or delivery The transferee then has the original payee's right to payment
A written promise or request for payment of a certain sum of money to order or to bearer A negotiable instrument is freely transferable, though, often by assignment or endorsement
According to the Uniform Negotiable Instruments Act , an instrument is negotiable when it is in writing and signed, containing an unconditional promise or order to pay a certain amount of money, on demand, or at a definite future date, to the bearer, to order, or to a named or certain drawee
Any document, such as a check, that contains a written order for one party to pay funds to another and meets federal requirements for negotiable instruments
According to the Uniform Negotiable Instruments Act, an instrument is negotiable when it is in writing and signed, containing an unconditional promise or order to pay a certain amount of money, on demand, or at a definite future date, to the bearer, to order, or to a named or certain drawee
A commercial instrument (such as a bill or a note) that can be transferred either by endorsement and delivery or merely by delivery The transferee or holder of such an instrument (1) takes the instrument free of some of the claims that persons obliged to pay on the instrument have against the transferor and (2) may sue the issuer of the instrument in his own name Also known as commercial paper