Negotiation - Definition - Law Dictionary Home Dictionary Definition negotiation

Definition :

Negotiation, treaty of business, whether public or private. [s. 48, Negotiable Instrument Act, 1881 (26 of 1881)]

--when a promissory note, bill of exchange or cheque is transferred to any person, so as to constitute that person the holder thereof, the instrument is said to be negotiated. [Negotiable Instruments Act, 1881 (26 of 1881) s. 14 & 48]