negotiable instrument

noun

: a transferable instrument (as a note, check, or draft) containing an unconditional promise or order to pay to a holder or to the order of a holder upon issue, possession, demand, or at a specified time
was determined to be a holder in due course of a negotiable instrument
see also bearer, holder in due course

Dictionary Entries Near negotiable instrument

Cite this Entry

“Negotiable instrument.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/negotiable%20instrument. Accessed 23 Feb. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!