Examlex
What problem did Claremont McKenna encounter that resulted in national headlines about the school?
Nonnegotiable Instrument
A financial document or contract that cannot be transferred or assigned to another party as easily as a negotiable instrument.
Mortgage
A secured loan agreement where the borrower pledges real property to the lender as collateral for the loan, which becomes void upon payment in full.
Negotiability
The characteristic of an instrument (like a check or promissory note) that allows it to be transferred from one person to another in a manner that conveys the instrument's benefits to the transferee.
Issuance
The process of officially issuing something, such as a document like a permit or license, or securities like bonds or stocks.