What Is An Example Of A Promissory Note That Is Negotiable And Wh…

What is an example of a promissory note that is negotiable and why is it considered negotiable or what makes it negotiable? ​

Answer:

A negotiable instrument is a commercial document in writing. There are of three types, namely, bills of exchange, promissory notes and cheques. Section 13 of the Negotiable Instruments Act, 2000 defines “negotiable instrument” as a promissory note, bill of exchange or cheque payable either to order or to bearer.

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