negotiable instrument
111carriage of goods — ▪ law Introduction in law, the transportation of goods by land, sea, or air. The relevant law governs the rights, responsibilities, liabilities, and immunities of the carrier and of the persons employing the services of the carrier.… …
112Value (law) — Value within the context of law, particularly with respect to contracts, is a concept closely related, but not identical, to that of consideration.At common law, certain transferrable obligations were only enforceable if the transferee had… …
113Fraud in the factum — is a type of fraud where misrepresentation causes one to enter a transaction without accurately realizing the risks, duties, or obligations incurred. Black s Law Dictionary (2nd Pocket ed. 2001 pg. 293). This can be when the maker or drawer of a… …
114Order Paper — 1. An order paper is a negotiable instrument that is payable to a specified person or its assignee. An instrument such as an order paper is negotiable only if it is payable to the order of a specified person, as opposed to the bearer of the… …
115without recourse — adverb conditional endorsement, qualified endorsement, restricted, subject to terms associated concepts: endorsement without recourse Burton s Legal Thesaurus. William C. Burton. 2006 without recourse …
116impostor rule — Under Uniform Commercial Code, Article 3, Sect. 404(a), a rule stating that if an impostor endorses a negotiable instrument and receives payment in good faith, the drawer of the instrument is responsible for the loss. An example would be if an… …
117security — Protection; assurance; indemnification. The term is usually applied to an obligation, pledge, mortgage, deposit, lien, etc., given by a debtor in order to assure the payment or performance of his debt, by furnishing the creditor with a resource… …
118sum certain — A requisite of a negotiable instrument is that it contains an unconditional promise to pay a sum certain. U.C.C. No. 3 104(lXb). In law of negotiable instruments, the sum payable is a sum certain even though it is to be paid (a) with stated… …
119bearer — One who is carrying some article, particularly a letter, message, of other writing; one who has information to impart orally; a word used in designating the payee of a negotiable instrument; the holder of a negotiable instrument not payable to a… …
120Interest in securities — An interest in securities is the asset of a client for whom an intermediary holds securities on an unallocated basis, commingled with the interests in securities of other clients. The distinction between securities and interests in securities is… …
