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FINDLAW LEGAL DICTIONARY

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Paper

paper n

1 : a piece of paper containing a written statement: as
a : a formal written composition or document often intended for publication [the Federalist s ]
b : a document containing a statement of legal status, identity, authority, or ownership often used in pl. whether applying to one or more items [naturalization s ] [this policy, including the endorsements and the attached s "Mutual of Omaha "]
c : a document (as an answer, motion, or brief) prepared in furtherance of a legal action [all s after the complaint required to be served upon a party shall be filed with the court "Federal Rules of Civil Procedure Rule 5(d)"]
2 : a document providing evidence of a financial obligation
;esp
: commercial paper in this entry

accommodation paper
: commercial paper used by one party to accommodate another party

bearer paper
: commercial paper that is freely negotiable by the holder and is made payable to bearer compare order paper in this entry

chattel paper
: paper that sets out both a buyer's obligation to repay and a lender's or a seller's security interest in the goods bought or that contains the provisions of a lease of the goods

commercial paper
: a usually negotiable instrument (as a note, draft, or certificate of deposit) arising out of a commercial transaction
;specif
: any of the instruments constituting the obligations of a business organization that are sold as investments

order paper
: commercial paper that is payable to order compare bearer paper in this entry

on paper
: figured at face value



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.