【正文】 issued, in favour of ?self or order?. They are countersigned by the issuing bank. countersign 復(fù)簽 Instruments of the second type are drawn by the issuing bank upon itself. Each correspondent of the bank is supplied direct with authority to cash them together with specimen instruments and facsimile signatures of its signing officials. To guard against fraud, the customer is generally required to write in his name on each travellers? cheque in the presence of the issuing bank and to countersign each instrument in the presence of the correspondent. The two signatures are then pared. Travellers? checks have been held by courts in the United States to be negotiable, but there does not appear to be reported English decision upon this subject. 5. Treasury Bills These bills were first issued under the provisions of the Treasury Bills Act 1877. The practice is for the Treasury to advertise for tenders, and the bills are issued at the best price that can be obtained for them. ? tender 投標(biāo)人 There does not appear to be any decision of the courts recognizing Treasury bills as negotiable instruments, but they are similar in form and purpose to earlier instruments known as Exchange bills, which were first issued in 1696 and were recognized in 1820 as negotiable. Hence there would seem to be no doubt that Treasury bills are negotiable. 6. Bearer Bonds A bond, in the widest legal sense, is any obligation under seal, but for present purpose, the obligation is that of repaying a sum of money. ? obligation 債務(wù) If the bond promises payment to bearer, the instrument is a bearer bond. As early as 1824 bearer bonds issued by the King of Prussia were recognized as negotiable by the English courts. ? bearer bond 無記名債券 The question whether English bonds were negotiable gave rise to a good deal of litigation during the second half of the nieenth century. The oute of this litigation was that English bonds were eventually recognized as negotiable. ? litigation 打官司，訴訟 In 1904 it was held that various bearer bonds, some issued by an English pany in English and others by foreign panies abroad, were negotiable and that the usage was so well established that it was no longer necessary to prove it in evidence. 7. Warehousekeepers? Warrants Private Acts of Parliament have made some warehousekeepers? warrants fully negotiable instruments. ? Warehousekeepers? Warrants倉(cāng)庫管理員棧單（ =dock warrant 碼頭倉(cāng)單）進(jìn)口貨物存入碼頭倉(cāng)庫時(shí)，由倉(cāng)庫簽發(fā)給貨主或其代理人的正式收據(jù)。為代表貨物所有權(quán)的證書，經(jīng)合法背書即構(gòu)成物權(quán)轉(zhuǎn)讓。 ? Private Acts （英國(guó)國(guó)會(huì)）私營(yíng)法例 There are some instruments which possess the first two characteristics of a negotiable instrument, but not the third。 in other words, a transferee takes them subject to any defects in the title of prior parties. Such instruments are sometimes referred to as ?quasinegotiable? or ?seminegotiable? in order to distinguish them from instruments which are fully negotiable. ? quasinegotiable instrument 準(zhǔn)可轉(zhuǎn)讓票據(jù) Some mon examples of quasinegotiable instruments are: 1. Postal Orders In a case decided in 1886, it was held by the Court of Appeal that ?post office orders? were not negotiable. ? postal order 郵政匯票（ =postal money order) It is considered, on the authority of that case, that postal orders of the type issued today are not negotiable. Moreover, postal orders bear on their face the words ?not negotiable?. 2. Bills of Lading A bill of lading is a document signed by the master of a ship or by his agent and given to the person shipping goods on board the vessel. The document performs three functions: first it is evidence of the terms of a contract of carriage, secondly, it is evidence of the shipment of goods, and thirdly it is evidence that the holder of it has the property in the goods. It states that the goods will be delivered to ?X or his assigns? or to ?X or order? and, when endorsed in blank by X, it passes by delivery. Thus, the delivery of an endorsed bill ?is equivalent to delivery of the goods themselves, and is effectual to transfer ownership if made with that intention. The bill of lading is the symbol of the goods.? Another characteristic of a bill of lading is that an endorsee thereof ?shall have transferred to and vested in him all rights of suit.? ? vest sth. in sb. 給予某人合法權(quán)利 But the third characteristic of a negotiable instrument is lacking。 an endorsee who gives value in good faith is unable to obtain a better title than his transferor had.