A more thorough explanation:

A negotiable instrument is a type of financial document that guarantees payment to the holder or a named party. It must be written, signed by the maker, and include an unconditional promise or order to pay a specific sum of money to the holder or a specific party. It can be payable at any time or on a specific date.

Examples of negotiable instruments include:

• Bank checks: A check is a written order to pay a specific amount of money to the person or entity named on the check.
• Promissory notes: A promissory note is a written promise to pay a specific amount of money to the holder or a named party at a specific time or on demand.
• Certificates of deposit: A certificate of deposit is a document issued by a bank that guarantees payment of a specific amount of money plus interest at a specific time in the future.
• Bills of exchange: A bill of exchange is a written order from one party to another to pay a specific amount of money to a third party at a specific time or on demand.

These examples illustrate the definition of a negotiable instrument because they all meet the criteria of being a written document that promises payment to the holder or a named party. They are also transferable, meaning they can be bought and sold by different parties.