Which of the following instruments is not a negotiable instrument?
Crossed cheque
Bearer cheque
Promissory note
Bill of exchange
A
Bearer cheque
B
Crossed cheque
C
Promissory note
D
Bill of exchange
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Solution
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When a cheque, crossed generally or specially, contains the words, “Not Negotiable” on the face of the cheque, then such a cheque loses it special characteristics of “negotiability”.
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