A negotiable instrument payable 'on demand' is transferable by:
Answer & Solution
Correct answer: B.
1. Section 14 — instrument payable to order requires indorsement + delivery; one payable to bearer requires only delivery.
2. This is a fundamental rule of negotiability.
3. Hence (B).
_Source: ICAI BoS CA Inter Paper 2 — Negotiable Instruments Act 1881_