Lexica → Phrase → negotiable instrument
| Letter | N |
|---|---|
| Letter name | en |
| Pronounciation | /ɛn/ |
| Phrase: | negotiable instrument |
|---|---|
| Pronounciation: | |
| Century: | |
| DA Name: | |
| Era: | C.E. |
| Origin: | Original |
| Type: | Official |
| Source Language: | Latin |
Source Language Words: | |
| Source Text: | |
Definition: | a form of Deed creating a temporary Trust based on an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order that complies to three (3) fundamental elements of form being: The unconditional promise or order to pay a fixed amount of money, with or without interest or other charges must be described in writing in the promise or order The Instrument does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money excepting specific surety, grants, promises or waivers concerning collateral to underwrite performance of payment The instrument must be payable to bearer or to order at the time it is issued or first comes into possession of a holder |
