An instrument paying a fixed amount in British pounds is not negotiable because the instrument must be payable in money authorized or adopted by the U.S.as part of its currency.

Question

Quizplus · Accepted Answer

The statement is incorrect. An instrument paying a fixed amount in British pounds is negotiable, but it may be subject to foreign exchange risks and may need to be converted to U.S. currency for payment.

An Instrument Paying a Fixed Amount in British Pounds Is