Negotiation - Law Dictionary Search Results
Cheque crossed generally
two parallel transverse lines, or of two parallel transverse lines simply, either with or without the words 'not negotiable', that addition shall be deemed a crossing and the cheque shall be deemed to be crossed generally Negotiable
good faith
fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article 3 on negotiable instruments defines good faith as “honesty in fact and the observance of reasonable commercial standards of fair dealing,”
holder in due course
holder in due course :the holder of a negotiable instrument that is complete and regular on its face and that is taken in good faith and for
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order
a command issued by a military superior 4 a : a direction regarding the party to whom a negotiable instrument shall be paid [pay to the of John Doe] see also money order, negotiable instrument b :
paper
commercial paper used by one party to accommodate another party bearer paper : commercial paper that is freely negotiable by the holder and is made payable to bearer compare order paper in this entry chattel paper :
protocol
record of a document or transaction 2 a : a preliminary memorandum often formulated and signed by diplomatic negotiators as a basis for a final convention or treaty b : the records or minutes of a diplomatic
recourse
demand payment or compensation ;specif : the right to demand payment from the endorser or drawer of a negotiable instrument see also recourse note at note compare non-recourse NOTE: Under Article 3 of the Uniform Commercial Code,
Promissory Note
called the 'maker,' and the person to whom it is payable is called the 'payee': when it is negotiated by the indorsement of the payee, he is called the 'indorser,' and the person to whom the note
Crossed cheques
KB 122, affirmed sub nom. Lloyds Bank Ltd. v. Savory & Co., 1933 AC 201; see also 'NOT NEGOTIABLE.' If the lines are drawn simply, or if the words 'and company' or any abbreviation thereof are written
Presetment of Bill of Exchange, Cheque, or Pro-missory Note
business of the drawee, but in no other case (s. 39). When a bill payable after sight is negotiated, the holder must either present or negotiate it within a reasonable time (s. 40). 'The presentment must be
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