In the small amplitude limit, we use the reductive perturbation method and the continuum limit approximation to derive a coupled nonlinear Schrö dinger (CNLS) equation describing the dynamics of two interacting signal packets in a discrete nonlinear electrical transmission line (NLTL) with linear dispersion. With the help of the derived CNLS equations, we present and analyze explicit expressions for the instability growth rate of a purely growing modulational instability (MI). We establish that the phenomenon of the MI can be observed only for “small” nonzero modulation wavenumbers. Also, we point out the effects of the linear dispersive element, as well as of the frequencies of the signal packets, on the instability growth rate. It is shown that the linear dispersion and the frequencies of signal packets can be well used to control the instability domain. Through the CNLS equations, we analytically investigate the propagation of solitary waves in the network. Our analytical studies show four types of interaction of signal packets propagating in the network: bright–bright, dark–dark, bright–dark and dark–bright soliton interactions.