On behalf of Equity Capital, Inc., Flip signs an instrument promising to pay $5,000 in gold to Growth Investments, Inc., on May 15. This instrument is
A. negotiable.
B. nonnegotiable, because gold is not a medium of exchange authorized 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.
Answer: B
Business
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