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A negotiable instrument that is payable to a specific person or entity named on the document, requiring endorsement for transfer.
Negotiated
A process where two or more parties discuss terms and conditions to reach a mutual agreement.
Specific Payee
An individual or entity designated to receive a particular payment or benefit from a contractual agreement.
Blank Indorsement
An endorsement on a financial instrument, such as a check, that specifies no particular endorsee and can be transferred by mere delivery.
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