NegotiabilityNegotiable Instrument:A signed writingthat contains an unconditional promise or order to payan exact amount, either on demandor at a specified future time. Also referred to as “commercial paper”. In order to be negotiable, an instrument must:1.Be in writing. (14-2a, p. 380)2.Be signed by the maker or the drawer. (14-2b, p. 380)3.Be an unconditional promise or order to pay. (14-2c, p. 381)4.State a fixed amount of money. (14-2d, p. 382)5.