Discussion
Which of the following is not Negotiable Instrument under Section 13 of NI Act, 1881 ?
Answer: C
The one not named in Section 13 is the bank draft.
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. Only these three are named in the section.
A bank draft is negotiable in practice and is treated under the Act much like a bill of exchange (Section 85A deals with drafts drawn by one office of a bank on another), but it is not one of the instruments the definition in Section 13 lists. The other three options are named in it.
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