2 Opening Case
a brief case of the three negotiable instruments：
A in New York imports a batch of chairs from B in Paris, the total value is 10,000 dollars, order number: 95E03LC001, shipment date: July 10th, 2011, and it is stipulated in the contract that payment should be effected within 30 days after shipment; C in Paris buys desks from D in New York with total
Chapter 2 Negotiable Instrument
• 2.1 General Introduction of Negotiable Instruments
• 2.2 Bill of Exchange • 2.3 Promissory Notes • 2.4 Cheque
1 Definition of Negotiable Instrument
the cash flow is： A
D
cash flow
B
We can see clearly from the left chart that the cash flow goes from A to B to C and finally D. In other words, A is the party that would effect payment finally, and on the contrast, D is the party that would receive money.
