N

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

NEGOTIABLE INSTRUMENT

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

draft

or

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.