1. The functions of notions of negotiable instruments are?
1. Transferability: Negotiable instruments can be easily transferred from one party to another, allowing for the quick and efficient transfer of funds.
2. Payment Guarantee: The issuer of a negotiable instrument guarantees payment to the holder of the instrument, providing a level of security in financial transactions.
3. Legal Protections: Negotiable instruments are governed by specific laws and regulations, providing legal protections and remedies in case of non-payment or fraud.
4. Simplified Dispute Resolution: In case of disputes or disagreements, negotiable instruments offer a clear and straightforward process for resolving issues, often through legal means.
5. Convenience: Negotiable instruments offer a convenient and widely accepted form of payment, making them a preferred option for many businesses and individuals.