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The terms "negotiable" and "non-negotiable" refer to the transferability of rights or instruments. A negotiable instrument, such as a check or promissory note, can be transferred from one party to another, allowing the holder to claim the rights associated with it. In contrast, a non-negotiable instrument cannot be transferred in this way, meaning that the rights remain with the original party or are subject to more restrictive conditions. Thus, the key difference lies in the ability to transfer ownership and the rights linked to the instrument.

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6d ago

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