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Banking Term: Negotiation

Apr 13, 2015 16:27 IST

    Banking Term: Negotiation

    • Negotiation is transferring of any instrument from one person to another in such a manner as to convey title and to constitute the transferee the holder thereof.
    • In case of bearer instrument, the negotiation is complete with delivery only.
    • But the negotiation by endorsement and delivery would be required in case of NIs payable to order.
    • Delivery is important to complete negotiation, which may be actual or constructive.
    • Without delivery the property will not be considered to have been transferred.

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