What is TRANSFERABLE?

A term used In a quasi legal sense, to indicate that the character of assignability or negotiability attaches to the particular instrument, or that it may pass from hand to hand, carrying all rights of the original holder. The words “not transferable” are sometimes printed upon a ticket, receipt, or bill of lading, to show that the same will not be good in the hands of any person other than the one to whom first issued.

More On This Topic



Link to This Definition
Did you find this definition of TRANSFERABLE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary