Question

Name any two types of commonly used negotiable instruments.

Answer 1

Answer:

1. bill of exchange

2. delivery orders

Answer 2

Common Negotiable instruments

Explanation:

The promissory note and Bill of Exchange are two types of negotiable instruments.

• The promissory note is a signed document with a written promise to pay a given amount at a specified date or on-demand to a specified person or bearer. The promissory note is a written document containing an explicit law signed by one party for paying only a certain sum of money to, or to the order of, a certain person or the instrument's bearer.
• The Bill of Exchange contains an order from the creditor to the debtor to pay someone after a certain period of time.