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LSDefine

Simple English definitions for legal terms

negotiable

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A quick definition of negotiable:

Negotiable means that something, like a piece of paper, can be given to someone else by simply handing it over or signing it. This is usually done when someone pays money for it. It also means that a deal or agreement can be made and changed if both parties agree. However, if there are any problems with the item or agreement, it may not be negotiable.

A more thorough explanation:

Definition: Capable of being transferred by delivery or endorsement when the transferee takes the instrument for value, in good faith, and without notice of conflicting title claims or defenses. It can also refer to a deal or agreement that is capable of being accomplished or a price or deal that is subject to further bargaining and possible change.

For example, a check is a negotiable instrument because it can be transferred to another person by endorsement or delivery. If someone endorses a check over to you, you can deposit it into your bank account and receive the funds. However, if the check is stolen or has a forged endorsement, it is no longer negotiable.

Another example of negotiable terms is in a business deal. If two companies are negotiating a contract, they may agree on certain terms that are negotiable, meaning they can be changed or adjusted during the negotiation process. For instance, the price of a product may be negotiable, and the two companies may go back and forth until they reach an agreement that works for both parties.

Overall, negotiable refers to something that can be transferred or changed under certain conditions, such as good faith and without conflicting claims or defenses.

negotiability | negotiable bill of lading

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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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