Negotiable Instruments Vs Non Negotiable. A negotiable instrument is a signed document that promises a payment to a specified person or assignee. This chapter first considers the definition of a negotiable instrument, as well as the concepts of ‘instrument’ and ‘negotiability’, before explaining how instruments come to be.
Negotiable instruments can be transferred to different parties, granting the new holder full legal title,. This chapter first considers the definition of a negotiable instrument, as well as the concepts of ‘instrument’ and ‘negotiability’, before explaining how instruments come to be.