Liquid assets easily convertible into money as needed such as marketable securities, moneymarket funds, and time deposits.


Any financial instrument that can readily be converted into cash. It is a written



promissory note, which is signed by the maker or drawer, has an unconditional promise, and is an order to make payment of a certain sum of money on demand by the bearer or to the order of a named party at a determinable future date. A “holder in due course” of a negotiable instrument is entitled to payment despite any personal disagreements between drawee and drawer.