In English law. The name of an instrument used for the transfer of a ship while she is at sea. An expression which is understood to refer to the instrument whereby a ship was originally transferred from the builder to the owner, or first purchaser. 3 Kent, Comm. 133. 9. In the law of negotiable Instruments. A promissory obligation for the payment of money. Standing alone or without qualifying words, the term is understood to mean a bank note, United States treasury note, or other piece of paper circulating as money. Green v. State, 28 Tex. App. 493, 13 S. VV. 785; Keith v. Jones, 9 Johns. (N. Y.) 121; Jones v. Fales, 4 Mass. 252.