Non Negotiable Instruments

Non Negotiable Instruments. Negotiable instruments are transferable, which allows the recipient to take the funds. The ucc defines a negotiable instrument as an unconditioned writing that promises or orders the payment of a fixed amount of money.

Person entitled to enforce instrument. This chapter examines the basic concept of ‘negotiability’ as the transferability of an instrument embodying monetary claims by its physical delivery—possibly free of adverse.