Which of the following can be classified as negotiable instruments?

Negotiable instruments are financial documents that represent a promise to pay a specific amount of money to the bearer or to a designated payee, either on demand or at a defined future date. The key characteristic of negotiable instruments is that they are transferable, and when transferred, they maintain their value and promise of payment.

Checks, drafts, and promissory notes fall into this category because they contain an explicit promise to pay a specified amount and can be endorsed and transferred from one party to another. This ensures that the rights associated with these instruments can easily pass to others, which is central to their function as negotiable instruments.

In contrast, contracts and agreements typically detail the obligations and commitments between parties but are not instruments of payment themselves. Real estate deeds serve to convey ownership of property but do not function as negotiable instruments, as they do not promise payment. Finally, property titles establish ownership and are not negotiable in nature because they are linked directly to ownership rights rather than a promise of payment. Thus, checks, drafts, and promissory notes are correctly recognized as negotiable instruments because of their inherent transferability and promise to pay.