A more thorough explanation:

Definition: Negotiable paper refers to a document that can be transferred from one person to another in exchange for money or something of value. It is also known as a negotiable instrument.

Examples: Examples of negotiable paper include checks, promissory notes, and bills of exchange. For instance, when you write a check to pay for something, the check becomes negotiable paper that can be transferred to the person or business you are paying. Similarly, when you sign a promissory note to borrow money, the note can be sold or transferred to another party.

Explanation: Negotiable paper is a legal term that describes a type of document that can be bought, sold, or traded like currency. The examples provided illustrate how negotiable paper works in practice. When you write a check or sign a promissory note, you are creating a document that can be transferred to another party in exchange for money or something of value. This makes it easier for people to conduct business and exchange goods and services without having to carry around large amounts of cash.