Negotiable Instrument: A Comprehensive Legal Overview
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Negotiable Instrument: A Comprehensive Legal Overview
Negotiable instrument
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A negotiable instrument is a financial document that guarantees direct payment of a detailed amount of money, either on demand with the payers name on it. It is a document that consists of contract promising money payment without any condition that may be paid on a certain date or anytime. This document could be meaning differently depending on which ever law it is being applied for instance bills of exchange, promissory notes, bank checks/notes, certificate of deposits and cheques (Cocker, 2001).
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