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An order written by one party (drawer) to another party (drawee) to pay money to a third party (payee).

An individual in possession of a commercial paper, who has the right to enforce the instrument.

A holder who takes an instrument in good faith, for value, and without notice of certain claims or defenses, and therefore has special rights.

A written promise to pay a specified amount of money to a certain individual or entity at a specific time or on demand.

A negotiable instrument that is payable to anyone in physical possession of the paper.

The transfer of a negotiable instrument in such a manner that the transferee (endorsee) becomes the holder of the instrument.

A type of draft that orders a bank to pay a specific amount of money from a person's account to the person in whose name the check has been issued.

The person who signs their name on a negotiable instrument to transfer ownership or to guarantee payment of the instrument.

A signature or statement of purpose by the owner on a negotiable instrument, which specifies the future control of the instrument.

An individual who becomes the holder of a negotiable instrument after an endorsement is made to him or her.

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time.

The transfer of rights or property to another party, which does not necessarily give the assignee the status of holder in due course.

A negotiable instrument that is payable to a specified person or his/her order.

The act of formally presenting a negotiable instrument to the drawee for acceptance or payment.

An endorsement made by someone who is not the holder of the instrument and is usually considered suspicious for negotiation purposes.

Warranties made by any transferor of a negotiable instrument, promising the absence of certain claims or defenses against the instrument.

The refusal by the drawee or maker to accept or pay on a negotiable instrument when it is presented for payment.

The party that creates or signs a draft, thereby ordering the drawee to pay the payee.

A draft drawn by the seller on the buyer of goods, requiring the buyer to pay the face amount either on the spot or at a specified date.

The person or entity to whom money is promised or owed on a negotiable instrument.

A check for which the bank guarantees payment by setting aside the check amount from the payer's account.

An unauthorized change or addition to a negotiable instrument that affects the obligation of a party.

Assurances given by the presenter of a negotiable instrument that all signatures are authentic and authorized.

An extension of credit from a lending institution when an account reaches zero.

A system that allows a customer to scan checks remotely and transmit the check images to the bank for deposit.

The party directed by the drawer to pay a certain amount of money to the payee on a draft.

A situation where an account does not have enough money to cover a check written against it.

The drawee's signed agreement to pay the draft as presented on the negotiable instrument.

Fraudulent alterations or counterfeit endorsements of a negotiable instrument.