Definition of Non-negotiable instrument

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TeachMeFinance.com - explain Non-negotiable instrument




historic definition...

Non-negotiable instrument -- A non-negotiable instrument is one where the payee has the right to set off or present in partial or entire liquidation of it a claim against the original owner of it or where there is a stipulation that payment of it shall or may be made in a representative of money (as a bill of exchange or draft or a check) or that payment shall or may be made in property. Also see Negotiable instrument.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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