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Negotiability
The quality of a document, particularly a financial instrument, that allows it to be transferred or assigned freely from one party to another.
Holder
An individual or entity that legally possesses a negotiable instrument, such as a check or a bond, and has the right to collect the value of the instrument.
Payable
Describes an amount of money that is owed and should be paid, often within a specified period.
Bearer
Refers to an individual or entity in possession of a negotiable instrument, such as a check or bond, that is payable to whoever holds it.
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