law: Negotiable Instruments Act, 1881 
  13. "Negotiable instrument" 
  11[(1 ) A "negotiable instrument" means a promissory
  
  note, bill of exchange or cheque payable either to order or to bearer.
  Explanation 1 :  A promissory note, bill of exchange or cheque
  
  is payable to order which is expressed to be so payable or which is expressed
  
  to be payable to a particular person, and does not contain words prohibiting
  
  transfer or indicating an intention that it shall not be transferable.
  Explanation 2 :  A promissory note, bill of exchange or cheque
  
  is payable to bearer which is expressed to be so payable or on which the only
  
  or last endorsement is an endorsement in blank.
  Explanation 3 :  Where a promissory note, bill of exchange or
  
  cheque, either originally or by endorsement, is expressed to be payable to the
  
  order of a specified person, and not to him or his order, it is nevertheless
  
  payable to him or his order at his option.] 
  12[(2)] A negotiable instrument may be made payable to two or
  
  more payees jointly, or it may be made payable in the alternative to one of
  
  two, or one or some of several payees.]