Negotiability
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
In mercantile law Transferable quality. That quality of bills of exchange and promissory notes which renders them transferable from one person to another, and from possessing which they are emphatically termed "negotiable paper."
3 Kent, Comm. 74, 77, 89, et seq. See Story, Bills, § 60.