The value given in exchange for the promise; modern law often presumes consideration in negotiable instruments.
The jurisprudence surrounding bills and notes focuses on the unique concept of . Unlike general contracts, negotiable instruments allow a "holder in due course" to take the instrument free from many personal defenses that might have existed between the original parties. Description Negotiability american jurisprudence bills and notes pdf
The ability of an instrument to be transferred from hand to hand like money. The value given in exchange for the promise;
Written promises to pay a sum of money to a specified person or bearer. american jurisprudence bills and notes pdf