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WAEC Commerce 1998 Question 11

Question 11

Banking

Which of the following is not a negotiable instrument?

  1. A.Invoice
  2. B.Money order
  3. C.Cheque
  4. D.Promissory note
  5. E.Bill of exchange
Show the answer and explanation

Answer: A (Invoice)

Explanation

An invoice is a bill for goods sold; it cannot be transferred to pass a right to money.