Q.Negotiable Instrument is :

A negotiable instrument is a written document representing a right to a fixed sum of money that can be transferred from person to person almost as freely as cash, while carrying its own legal protections for an honest transferee. Section 13 of the Negotiable Instruments Act, 1881 defines a negotiable instrument as a promissory note, bill of exchange or cheque payable either to order or to bearer — an instrument 'payable to order' names a specific person (or their nominee) as entitled to payment, while one 'payable to bearer' is payable to whoever lawfully holds it. …