Tuesday, 23 December 2014

Term of the Day negotiable

Term of the Day


  1. The ability to be sold or transferred to another party as a form of payment. Something which is negotiable is transferable by endorsement anddelivery. A negotiable instrument could be a check made out to you, because you could endorse it for payment to you or transfer it to someone else as payment to them.
  2. For a price or other terms of a contract or agreement, the ability to be adjusted. For example, when a price is said to be negotiable, it means that the seller is open to the possibility of reducing the price.
Learn more about this term
Usage Example
When shopping at most retail stores items are typically not negotiable as they are listed at a set price.
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