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

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

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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

A draft drawn on a bank and accepted, guaranteeing payment by the bank at maturity.

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

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

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

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

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

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

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

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