1 Negotiable Instruments 1.1 Definition Is a chose in action, (法律上的产权) the full and legal title to which is transferable by delivery of the instrument (possibly with the transferor,s endorsement) with the result that complete ownership of the instrument and all the property it represents passes freely from equities to the transferee, providing the latter takes the instrument in good faith and for value 经贸学国贸系 王学意⊙经贸学院国贸系 王学惠 © 1 Negotiable Instruments 1.1 Definition: Is a chose in action,(法律上的产权） the full and legal title to which is transferable by delivery of the instrument (possibly with the transferor’s endorsement) with the result that complete ownership of the instrument and all the property it represents passes freely from equities to the transferee, providing the latter takes the instrument in good faith and for value