47. A bailment: A - Transfers ownership of the property B - Transfers possession of the property C - Transfer title to property D - None of the above 48. A negotiable instrument: A - Is designed to function as cash B - Is necessary for a modern economy C - Can be acquired without consideration D - A and B 49. Which of the following are negotiable instruments? A - A ticket to a sporting event B - A check C - An unsigned Promissory Note D - A blank check