An instrument is a document of title to money. 

票据是代表金钱支付权利的文据。

 

Every instrument constitutes an independent contract embodying¹ a payment obligation. 

每张票据都构成一份独立的体现支付义务的合同。 

 

The bill of exchange was in its inception² confine largely to the financing of foreign trade. 

汇票最初主要限于在外贸金融活动中使用。 

 

A bona fide holder³ for value takes free from any defect in the title of his predecessors⁴.

有价证券善持意有人不受前手所有权缺陷的影响。

 

A check cannot be accepted. 

支票不得承兑。

 

An endorsement⁵ by the drawee is null and void. 

付款人认可无效。

 

The check is payable⁶ to bearer. 

向持票人付款的支票。

 

The promissory note is a document in which A promises to pay a sum of money to B. 

本票是规定甲方向乙方支付一笔款额的一种文据。

 

They would almost certainly be held by the court to be negotiable instruments, albeit⁷ outside the scope of the Bills of Exchange Act. 

尽管不在《汇票法》规定之内，但法院几乎肯定将它们裁定为是流通票据。

 

This autonomy of the payment obligation is essential to the marketability of instrument. 

支付义务的自动履行对票据的可流通性非常重要。

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