what are the two kinds of negotiable instruments 
there are two basic types of negotiable instruments an order to pay this covers drafts and checks and a promise to pay promissory notes and cds 3the bottom linea negotiable instrument like as a personal or cashier s check is a document that promises an amount of money to a particular person or entity it s characterized by being transferable ownership of the instrument can be handed over simply by delivery or by a valid endorsement the most common types of negotiable instruments are personal cashier s traveler s checks money orders promissory notes and cds 