UNIT 1 – LAWS RELATING TO NEGOTIABLE INSTRUMENTS (NIS)
1.1. Introduction to Negotiable Instruments
1.2. Types of Negotiable Instruments
1.3. Parties to the bill of exchange
1.4. Crossing of Cheques

The word “Negotiable” means Transferable by Delivery” and “Instrument” means a written
document by which a ‘right’ is created by one person in favour of other person. Thus,
negotiable instrument means “a document transferable by delivery”.
The Negotiable Instruments Act has not defined the term negotiable instrument. It only
names three Negotiable Instruments in Sec. 13. These are:
 Cheques
 Promissory Notes (PN)
 Bills of Exchange (BE)

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Video lecture Unit-1 Laws related to negotiable Instrument

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