Transferable Instrument
/ˈtrænsfərəbl ˈɪnstrəmənt/
Definitions
- (n.) A negotiable instrument that is payable either to order or to bearer and may be transferred by endorsement or delivery.
The bank accepted the transferable instrument as valid payment.
Forms
- transferable instruments
Related terms
See also
Commentary
The term is central in commercial law, particularly under the Uniform Commercial Code (UCC), as it denotes documents that facilitate the transfer of funds or credit by simple physical delivery or endorsement.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.