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    Question

    Which of the following is NOT a "Negotiable Instrument"

    by usage or custom?
    A Dividend Warrant. Correct Answer Incorrect Answer
    B Bearer Debenture. Correct Answer Incorrect Answer
    C Share Certificate. Correct Answer Incorrect Answer
    D Circular Notes. Correct Answer Incorrect Answer
    E Hundi. Correct Answer Incorrect Answer

    Solution

    Share certificates are "Documents of Title" but are not negotiable instruments as they cannot be transferred by mere delivery or endorsement to give a better title.

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