Negotiable Law and Legal Definition
Negotiable has the following meanings
- In relation to a written instrument it means capable of being transferred by delivery or indorsement when the transferee takes the instrument for value, in good faith, and without notice of conflicting title claims or defenses. A negotiable instrument could be a check made out to another person, because that person could endorse it for payment or transfer it to someone else as payment to them.
- Negotiable can also mean capable of being accomplished or navigated.
- When referred in context of a price or deal it means subject to further bargaining and possible change. For example, when a price is said to be negotiable, it means that the seller is open to the possibility of reducing the price.
