Question : Which of the following is not a type of negotiable instrument?
Option 1: Cheque
Option 2: Bill of exchange
Option 3: Promissory note
Option 4: None of the above
Answer (1)
10th Jan, 2024
Correct Answer: None of the above
Solution : The correct answer is
d) None of the above
All options mentioned (cheque, bill of exchange, and promissory note) are types of negotiable instruments. A negotiable instrument is a document that guarantees the payment of a specific amount of money, either on-demand or at a specified future date. It can be transferred from one person to another by endorsement or delivery, making it a valuable and transferable instrument.
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