Q.Name any two types of commonly used negotiable instruments.

Negotiable instruments are freely transferable written instruments of credit; the two most common ones used in trade are named below.

A negotiable instrument is a written document whose ownership can be transferred freely by delivery or endorsement. The two most commonly used in business are the bill of exchange (an unconditional order to pay) and the promissory note (an unconditional promise to pay). A cheque is another negotiable instrument.