Advertisements
Advertisements
Question
Name any two types of commonly used negotiable instruments
Answer in Brief
Solution
Following are the two types of negotiable instruments which are commonly used:
1. Cheque - Cheque is a written negotiable instrument which orders a bank to pay the stated amount of sum to the holding the instrument.
2. Promissory note - Promissory note is a written negotiable instrument which issues a promise from the issuer to the bearer to pay the sum amount of money after a specified date in future.
shaalaa.com
Bill of Exchange
Is there an error in this question or solution?
