Definitions of negotiability
(of a cheque or other money substitute) the quality of being able to be exchanged for cash
The negotiability of a cheque is not affected by the fact that it is backdated.
(of an asset) the quality of being able to be transferred or assigned to the ownership of another person
The negotiability of an asset does not demand that a security interest in it be perfected by possession.
the quality of being open to discussion, modification or negotiation
The house is now going for $2,100 a month, with "slight negotiability" on the rent.