Negotiable instrument means a promissory note bill of exchange or cheque payable to ........

Commercial and Business Laws Negotiable Instrument Act

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Negotiable instrument means a promissory note, bill of exchange or cheque, payable to _____

Bearer

order

either to bearer or order

neither bearer nor order

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Explanation:

A negotiable instrument is actually a written document and is transferrable. This document specifies payment to a specific person or the bearer of the instrument at a specific date. Act does not define ‘Negotiable instruments’, however, Section 13 provides for three kind of negotiable instrument:

1. Promissory note,

2. Bills of exchange and

3. Cheque