Non-negotiable instrument. A non-negotiable instrument is one where the payee has the right
to set off or present in partial or entire liquidation of it a claim against the original owner of it or
where there is a stipulation that payment of it shall or may be made in a representative of money
(as a bill of exchange or draft or a check) or that payment shall or may be made in property. Also
see Negotiable instrument.
to set off or present in partial or entire liquidation of it a claim against the original owner of it or
where there is a stipulation that payment of it shall or may be made in a representative of money
(as a bill of exchange or draft or a check) or that payment shall or may be made in property. Also
see Negotiable instrument.
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