Chapter

Introduction

James Steven Rogers

in The End of Negotiable Instruments

Published in print December 2011 | ISBN: 9780199856220
Published online January 2012 | e-ISBN: 9780199919574 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199856220.003.0011
Introduction

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The Introduction summarizes the argument of the book and provides a thumbnail sketch of negotiable instruments law for readers not familiar with the subject. The term “negotiable instrument” covers checks and promissory notes. A check is a written instruction (“draft”) by which a customer (“drawer”) directs a bank (“drawee”) to make payment to some other person (“payee”). A promissory note is a writing in which the borrower (“maker”) promises to pay money to the creditor (“payee”). A check or note qualifies as a “negotiable instrument” only if it satisfies various very rigid formal requirements.

Keywords: negotiable instrument; check; promissory note; payment systems; draft

Chapter.  3086 words. 

Subjects: Company and Commercial Law

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