Multiple Choice
On behalf of First-Rate Capital, Inc., Greg signs an instrument promis?ing to pay $5,000 in gold to Hot Funds, Inc., on May 15. This in?strument is
A) negotiable.
B) nonnegotiable, because gold is not a medium of exchange author?ized or adopted by a government as currency.
C) nonnegotiable, because it does not recite any consideration.
D) nonnegotiable, because it is for an amount of $500 or more.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: An undated instrument is not negotiable.
Q24: A negotiable instrument serves as a substitute
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Q28: Ross signs an instrument using an "R"
Q30: To be negotiable, an instrument must include
Q32: To be negotiable, an instrument must be
Q33: A signature can consist of initials signed
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