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in138MEANING AND DEFINITION OF NI. The word ‘negotiable’ means transferable from one person to another, and the term ‘instrument’ means a document of title of money (as described by Prof. Goode).. A NI is required toThis article is written by Saloni Agarwal of 3rd Semester of Himachal Pradesh National Law University, an intern under Legal Vidhiya Abstract: The Negotiable Instruments