Loss resulting directly from forgery or alternation of, on or in any Negotiable Instrument.

因为伪造或被替换可流通票据而导致直接损失。

Under these circumstances, the bill of lading contains no exceptions and is a readily negotiable instrument.

在此情况下，提单包含着无异议以及是一很快速地可转让的工具。

A holder who, by gross negligence, acquires a negotiable instrument that is not in conformity with the provisions of this Law, shall have no right thereon, either.

第十二条以欺诈、偷盗或者胁迫等手段取得票据的，或者明知有前列情形，出于恶意取得票据的，不得享有票据权利。

The loss of negotiable instrument is that the bearer lost negotiable instrument but not on his inclination.

所谓票据丧失，即持票人并非出于自己的本意而丧失对票据的占有。

"Bearer" means a person in possession of a negotiable instrument, document of title, or certificated security that is payable to bearer or indorsed in blank.

“持票人”指占有凭票付款或空白背书的流通票据、所有权凭证或实物证券的人。