(a) The four characteristics of a negotiable instrument are:
(i) It is transferable by mere delivery or by delivery coupled with endorsement for payment to the order.
(ii) The transferee need not give notice to the debtor, unlike other choses in action.
(iii) Consideration is presumed to have been given for the instrument.
(iv) Full legal title passes to the transferee, allowing them to sue in their name.

(b) Mr. Eddie may have a valid claim against Perfect Bank Limited as there were sufficient funds in his account to cover the cheque. A bank is under a duty to honor its customer’s cheque if there are adequate funds. Since no valid reasons like insufficient funds, death, or a court order were present, Mr. Eddie could claim damages for wrongful dishonor of the cheque.

(c) Three ways a Will may be revoked are:
(i) The subsequent marriage of the testator.
(ii) Making a later Will.
(iii) The destruction of the Will with the intent to revoke it (animus revocandi).

(d) The parties to a Bill of Exchange are:
(i) The drawer: The person who issues the bill.
(ii) The drawee: The person on whom the bill is drawn (usually a bank).
(iii) The payee: The person to whom the money is payable.