Dictionary of Banking Terms: instrument
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.
Dictionary of Business Terms: instrument
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 Finance and Investment Terms: instrument
instrument
legal document in which some contractual relationship isgiven formal expression or by which some right is granted-for example, notes, contracts, agreements.
Dictionary of Real Estate Terms: instrument
instrument
a written legal document, created to establish the rights and liabilities of the parties to it.
Examples: The following are examples of instruments:
- deed
- mortgage
- land contract
- lease
- assignment
