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Business Definition for: instrument

Dictionary of Finance and Investment Terms
instrument

legal document in which some contractual relationship isgiven formal expression or by which some right is granted-for example, notes, contracts, agreements.

See also negotiable instrument
Dictionary of Banking Terms
instrument

legally enforceable agreement between two or more parties, expressing a contractual right or a right to the payment of money. Practically all documents used in credit are instruments, e.g., checks, drafts, notes, bonds.

See also negotiable instrument
Dictionary of Business Terms
instrument

In general: tool to perform a task or a measurement.
Law: legal document that records an act or agreement and provides the evidence of that act or agreement. Instruments include contracts, notes, and leases.

Dictionary of Real Estate Terms
instrument

a written legal document, created to establish the rights and liabilities of the parties to it.

Examples: The following are examples of instruments:

Related Terms:
negotiable instrument

unconditional order or promise to pay an amount of money, easily transferable from one person to another. Examples: check, promissory note, draft (bill of exchange). The Uniform Commercial Code requires that for an instrument to be negotiable it must be signed by the maker or drawer, must contain an unconditional promise or order to pay a specific amount of money, must be payable on demand or at a specified future time, and must be payable to order or to the bearer.

negotiable instrument

unconditional order or promise to pay an amount of money, easily transferable from one person to another. Examples: check, promissory note, draft (bill of exchange). The Uniform Commercial Code requires that for an instrument to be negotiable it must be signed by the maker or drawer, must contain an unconditional promise or order to pay a specific amount of money, must be payable on demand or at a specified future time, and must be payable to order or to the bearer.

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 Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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