1. Dene the term 'negotiable instrument'. What are its essential characteristics? 2. Discuss the presumptions in respect of a negotiable instrument. 3. What is a bill of exchange? How does it differ from a promissory note? 4. Who are the parties to a negotiable instrument? Discuss. 5. What is meant by negotiation? How is it effected and how does it differ from an assignment? 6. Dene endorsement. What are the various classes of endorsement? e 7. Explain the privileges granted to a holder in due course. 8. In What different ways may a negotiable instrument be W? What are the duties of a holder of a W bill