South Carolina Real Estate Practice Exam

A negotiable instrument is a document that promises payment of a specified amount to a designated party, either on demand or at a specific time. Checks are a prime example of negotiable instruments because they clearly define the amount to be paid, the payer, and the payee, and they can be easily transferred from one party to another. When a check is signed, it gives the holder the right to receive the funds from the issuer's bank account.

In contrast, while leases and handwritten notes might involve agreements or promises, they typically don't meet the specific criteria of negotiable instruments, which include being transferable and unconditional in their nature. A debit card, while it allows for transactions, does not itself represent a promise to pay in the same way a check does; rather, it's a method to access funds already held in an account. Thus, among the choices provided, a check most accurately fulfills the definition of a negotiable instrument.