Sociology | Mercantile Law | International Law | International Relations

The word ‘negotiable’ means, “transferable from one person to another in return for consideration”. The word ‘instrument’ means, “a written document by which a right is created in favour of some person”. Hence, the term Negotiable Instrument means “a document in writing which creates a right in favour of some person”, and which is freely transferable by delivery.

According to Section 13(1) of the Negotiable Instrument Act, “A negotiable instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer”.

• Types of Negotiable Instrument
• Negotiable Instrument Terms
• Cheque and Crossing of a Cheque
• Discharge of Negotiable Instrument
• Maturity of Negotiable Instrument
• Drawer, Drawee, Holder and Holder in due course and other Topics