Negotiability is wholly a matter of form.

Negotiability refers to the feature of certain financial instruments, such as checks, drafts, and promissory notes, to be transferred to a new owner by delivery or endorsement. Whether an instrument is negotiable or not depends entirely on its form, including the presence of certain elements such as an unconditional promise or order to pay a fixed amount of money, a statement of the payment's time and place, and the absence of certain conditions or restrictions. Therefore, negotiability is purely a matter of form, as opposed to substance or content.