Negotiate. To transfer for value a negotiable instrument.
See NEGOTIABLE INSTRUMENT

Negotiable instruments. Instruments purporting to represent so much money, in which the property passes by mere delivery, e g bills of exchange, promissory notes, etc (see the Bills of Exchange Act 1882, ss 31,32). Such instruments constitute an exception to the general rule that a man cannot give a better title than he has himself.
See BILL OF EXCHANGE; PROMISSORY NOTE.

..page 238 Mozley & Whiteley's Law Dictionary -12th Edition ...J.E. Penner

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NEGOTIATE In refernce to a bill of exchange, to transfer for value by delivery or endorsement for a valuable consideration. In contract law, the process preceding contract formation in a bilateral relationship. Negotiation ends when one or both parties terminate the interaction short of contract formation or when a contract is formed.

NEGOTIABLE INSTRUMENT An instrument that passes by delivery giving the bona fide holder for value a good title. A bona fide holder of the instrument for value is kinown as a holder in due course, and he holds it free from any claims, defects, or equities affecting the title of the transferor. A negotiable instrument usually contains an obligation or unconditional promise by the maker to pay a certain sum of money at a definite time to the holder or bearer of the instrument. A transfer of the instrument may operate as a complete legal transfer of the document and obligation which is enforceable by the transferee.
Bills of exchange, cheques, and promissory notes are the most important kind of negotiable instruments. Martin v. National Union Fire Insurance Co. of Pittsburg, [1923- e D.L.R. 220 (Alta.S.C.), affirmed [1923] 4 D.L.R. 574 (Alta.S.C.A.D.), affirmed [1924] S.C.R. 348; The Provincial Treasurer of Manitoba v. Bennett, [1937] S.C.R. 138.

page 187-188 Canadian LAW Dictionary - BARRON'S