A document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document.
- bills of exchange
- promissory notes
- letters of credit that must be presented to claim payment, and
- writings that evidence a right to payment of money that is ordinarily transferred by delivery with an endorsement or assignment.
The right given under a negotiable instrument is personal property.
See definition of 'negotiable instrument' under section 10 of the PPS Act.