Multiple choice

Which of the following is not a negotiable instrument?

  1. Will

  2. Cheque

  3. Promissory note

  4. Bill of exchange

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A Correct answer
Explanation

A negotiable instrument is a written order or unconditional promise to pay a fixed sum of money on demand or at a certain time. A will is a legal declaration by which a person names one or more persons to manage his or her estate and provides for the distribution of his or her property at death.  A will is not a negotiable instrument.

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