Question

1. What are the duties the basic types of negotiable instruments? 2. What are the requirements of a negotiable instrument?

Answer 1

The negotiable instrument is cell is a document that contains the specific of what is promise to be paid. in other words whoever possesses the instrument will be paid the specified amount of money on the agreed upon date whether that is immediately or sometime in the future a negotiable instrumentmay be transferred to a third party holding the same value to the new holder and everyday example of negotiable instrument is bank cheque which is given to obtain who then takes it to his bank to be cashed or deposit into his account.
negotiable instrument are transferable in nature allowing the holder to take the fund as cash or use them in a manner appropriate for the transaction or according to their preferences.

Negotiable instrument consist promissory notes bill of exchange banknote share warrants.  

Negotiable instrument order given by drawer to the grave should be an unconditional order

The drawer should signed the instrument personally or to his agent if the instrument is forged and if the drawer is arguable then the instrument cannot be treated as the bill of exchange.

this instrument should contain the exact amount payable in it to be a bill of exchange if the amount is mentioned as upon or not exceeding or at least then it cannot be a bill of exchange or negotiable instrument.