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NEGOTIABLE INSTRUMENT

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Originally appearing in Volume V19, Page 343 of the 1911 Encyclopedia Britannica.
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NEGOTIABLE See also:

INSTRUMENT , in See also:law, a document or other instrument purporting to represent so much See also:money, and the See also:property in which passes, like money, by See also:mere delivery. Negotiable See also:instruments arise in either of two ways: (1) by See also:statute, (2) by See also:custom of merchants. The most commonly recognized negotiable instruments are bills of See also:exchange, promissory notes, bills of See also:lading, See also:foreign bonds and See also:debentures payable to See also:bearer. Negotiable instruments constitute an exception to the See also:general See also:rule that a See also:man cannot give a better See also:title than he has himself (see See also:BILL OF EXCHANGE).

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