negotiable instrument


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References in periodicals archive ?
Once created, the instrument is then sold by the supplier to an investor using a process similar to that of open-account receivables sales, but it usually involves a physical embodiment of the negotiable instrument.
1041(1) defines a negotiable instrument as an unconditional promise or order to pay "a fixed amount of money, with or without interest or other charges described in the promise or order.
89) Indeed, the statutory definition of negotiable instrument requires an unconditional promise to pay a sum certain and prohibits additional undertakings.
They have lawyers who can sort out whether calling air miles a negotiable instrument is reasonable.
As the negotiable instrument, it was of utmost importance to design electronic mortgages to meet and comply with the requirements of the Uniform Commercial Code (UCC) and the eSignature laws.
6 million) with its new investment product the AmAdvantage Plus Islamic Negotiable Instrument of Deposit.
Negotiation--A person who holds a negotiable instrument is identified as a holder.
25) A new provision within section 3-307 of the revised UCC consolidated these various sections and clarified that a taker's notice of a fiduciary's breach of duty, concerning the fiduciary's transfer of a negotiable instrument to the taker, vitiates the defendant-taker's status as a holder in due course.
You have not issued a negotiable instrument tying a legal commitment to buy and the foreign source ties up its own capital.
Judge Deva Pillay told them: "It was plain you had a highly negotiable instrument and you recognised its value.
To facilitate check truncation and electronic check exchange, the Check 21 Act authorizes a new negotiable instrument called a "substitute check" and provides that a properly prepared substitute check is the legal equivalent of the original check for all purposes.
The value of the negotiable instrument represents the debtor's obligation to the payee.
The new law, which takes effect a year from its enactment, facilitates check truncation by creating a new negotiable instrument called a substitute check--a paper printout of a digital image.
First, there was a direct physical loss of a check or negotiable instrument due to theft by deception.
Payette also makes an effort to consider, if only summarily, the impact of a wide range of devices such as compensation, subrogation, actual possession of a negotiable instrument, seizing creditor's priority, and the Paulian action that indirectly, or by ricochet, generate an execution preference (nos.