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Negotiable Instrument
A paper confirming the promise to pay a certain sum of money, either immediately upon request or at a predetermined date, with the identity of the person making the payment specified on it.
Oral Negotiable
A verbal agreement that is intended to be binding but may lack the formal requirements of a written contract, particularly in the context of negotiable instruments.
Maker Or Drawer
The individual or entity that creates or signs a promissory note, check, or draft, promising to pay a certain sum.
Uniform Commercial Code
A comprehensive set of laws governing all commercial transactions in the United States intended to harmonize laws across the states.
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