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Negotiability
The quality of a financial instrument that allows it to be transferred or assigned from one party to another in a way that the rights accompanying the instrument are also transferred.
Revised Article 3
The updated section of the Uniform Commercial Code that delineates rules and procedures for negotiable instruments.
Particular Fund Doctrine
The principle that a creditor can only lay claim to specific funds or assets of a debtor rather than the debtor's general assets.
90-Day Note
A financial instrument promising payment of a specific sum to the holder 90 days after issuance.
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