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Negotiable instrument
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<p>A negotiable instrument is a document guaranteeing the payment of a specific amount of <a href="/facts/Money/3BYGU6C8">money</a>, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a <a href="/facts/Contract/SkqyGj6S">contract</a>, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings, depending on its use in the application of different laws and depending on countries and contexts. The word "negotiable" refers to transferability, and "<a href="/facts/Legal_instrument/SvqkPNcM">instrument</a>" refers to a document giving legal effect by the virtue of the law. </p>