negotiable instrument
noun [ C ]
ukus MONEY
a written order or promise to pay a fixed amount of money on demand or at a particular time, for example, a cheque or banknote:
Payment could be made without the transfer of currency, and negotiable instruments acted as a means of credit.
STOCK MARKET, FINANCE
an investment that can be traded on a financial market:
When bonds and shares are treated as negotiable instruments, an innocent holder for value may often acquire a better title than his predecessor had.