Negotiable instrument

{
  "id": "MLC-T-LAW-003381",
  "term": "Negotiable instrument",
  "field": "Law",
  "definitions": [
    "A signed writing that contains an unconditional promise or order to pay a fixed sum of money to the bearer or to an identifiable person. This document must be payable either upon demand or at a definite time and be free of any other undertaking by the promisor. In the United States, the requirements and transfer of such instruments, including checks and promissory notes, are governed by Article 3 of the Uniform Commercial Code.",
    "Written documents that promise payment of a specified sum of money, either immediately upon presentation or at a future date. These instruments are freely transferable, allowing the holder to receive payment. They include items such as checks, promissory notes, and certificates of deposit, and are regulated by the Uniform Commercial Code (UCC) in the United States."
  ],
  "url": "https://mlchart.com/terminology/law/negotiable-instrument/"
}