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Negotiable instrument. § 8.3A-104. Negotiable instrument. (a) Except as provided in subsections (c) and (d), "negotiable instrument" means 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, if it: (1) is payable to bearer or to order at the time it is ...
Feb 1, 2023 · A promissory note is a negotiable instrument in which one party promises to pay a certain amount to another party to settle an outstanding debt. A bill of exchange is a negotiable instrument between three parties: The drawer, who drafts the bill. The drawee, who is responsible for making payments on the bill. The payee, who receives payment.
Dec 29, 2023 · The term "negotiable" in finance refers to the ability to transfer or sell a negotiable certificate of deposit to another party. Find out more about negotiable certificates of deposit in this article. Certificates Of Deposit. (Many of the links in this article redirect to a specific reviewed product.
A signed paper that promises to pay a certain amount to a particular person or the assignee is a negotiable instrument. To put it another way, it is a codified IOU: a transferable signed document that guarantees the payment of a certain amount to the bearer at a specified time or upon demand. The instrument must contain a name or other ...
Jul 18, 2023 · Negotiable instruments can be broadly classified into three types, namely promissory notes, cheques, and bills of exchange. 1. Promissory Notes. These are the instruments that are signed by the payer and contain a promise to pay a certain amount of money to another person, or his/her order, or to the bearer of the instrument at a certain date.
Negotiable instrument. (a) Except as provided in subsections (c) and (d), "negotiable instrument" means 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, if it: (1) is payable to bearer or to order at the time it is issued or first comes into possession ...
A negotiable certificate of deposit (NCD) refers to a certificate of deposit with a minimum par value of $100,000, although typically, NCDs will carry a much higher face value. They are also known as jumbo CDs. NCDs are guaranteed by a bank and can be traded in a highly-liquid secondary market. However, they cannot be redeemed before maturity.
