negotiable instrument

negotiable instrument definition - legal

n

In commercial law, a writing that meets certain criteria, such as that it contains an unconditional promise to pay a specified amount on demand or at a particular date to the bearer or a particular person, and it is signed by the person making it.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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