negotiable instrument
noun[C]
ukusMONEY
a writtenorderorpromisetopayafixedamountofmoneyondemandor at aparticulartime, forexample, achequeorbanknote:
Payment could be made without thetransferofcurrency, andnegotiableinstrumentsactedas ameansofcredit.
STOCK MARKET,FINANCE
aninvestmentthat can betradedon afinancialmarket:
Whenbondsandsharesaretreatedasnegotiableinstruments, aninnocentholderforvaluemay oftenacquireabettertitlethan hispredecessorhad.