MLchartDataset catalogue

Sum certain

Term · Law · MLC-T-LAW-004767

A specific, determinable amount of money that is required for a financial instrument to be considered negotiable. The amount must be clearly ascertainable from the face of the instrument itself, without reference to outside sources. Under the Uniform Commercial Code, an instrument's sum is still certain even if it includes provisions for interest, different interest rates, or costs of collection and attorney's fees upon default.

Table 1. Record
IdentifierMLC-T-LAW-004767
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004767",
  "term": "Sum certain",
  "field": "Law",
  "definition": "A specific, determinable amount of money that is required for a financial instrument to be considered negotiable. The amount must be clearly ascertainable from the face of the instrument itself, without reference to outside sources. Under the Uniform Commercial Code, an instrument's sum is still certain even if it includes provisions for interest, different interest rates, or costs of collection and attorney's fees upon default.",
  "url": "https://mlchart.com/terminology/law/sum-certain/"
}

Record 4,865 of 5,441 in Law terminology (MLC-0107). Request the full dataset.