The following definitions for “negotiation” are taken from Ballantine’s Law Dictionary (3rd edition), Bouvier’s Law Dictionary (6th edition), Black’s Law Dictionary (2nd edition), and Webster’s Dictionary (1828):
A civil law term meaning the seizure and sale of the property of the principal to satisfy the demand against him before proceeding against that of the surety [Schmidt v. New Orleans, 33 La Ann 17, 18].
The deliberation, discussion, or conference upon the terms of a proposed agreement; the act of settling or arranging the terms and conditions of a bargain, sale, or other business transactions. Also the transfer of, or act of putting into circulation, a negotiable instrument.
- The act of negotiating; the transacting of business in traffick; the treating with another respecting sale or purchase.
- The transaction of business between nations; the mutual intercourse of governments by their agents, in making treaties and the like; as the negotiations at Ghent.