On Behalf of First-Rate Capital, Inc

question 29

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.

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Definitions:

Traditionalists

Individuals or groups who adhere to long-established practices and are resistant to modern changes.

Radically Diverse

Describes an environment, group, or situation that includes a wide range of different cultures, ethnicities, genders, and viewpoints.

Generation X

The demographic cohort following the baby boomers and preceding the Millennials, typically born between the mid-1960s and early 1980s, known for their resourcefulness and independent thinking.

Generation Y

Also known as Millennials, refers to the cohort of individuals born approximately between 1981 and 1996, known for their familiarity with digital technology and media.