Question
Which of the following does not form the part of a
Negotiable Instrument as per Negotiable Instruments Act, 1881?Solution
A negotiable instrument is a commercial document in writing that contains an order for payment of money either on demand or after a certain time. There are of three types of Negotiable Instrument as per Negotiable Instruments Act, 1881:       I.       Bills of exchange     II.       Promissory notes    III.       Cheques Currency is a legal tender, guaranteed by the government to transfer value but the Negotiable Instruments have following characteristics. ·        It is written document signed and stamped by the maker/drawer. ·        It has a specific payee to whom the value is transferable. ·        Negotiable Instruments requires acceptance and endorsement.
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