Fern has six nieces, ages five to sixteen. She writes an instrument for $50 that states, "Pay to the order of my niece." The instrument is

A) negotiable.
B) nonnegotiable, because the amount of money is less than $500.
C) nonnegotiable, because it is illegal to write an order instrument payable to a relative.
D) nonnegotiable, because there is no specific person identified.

Order Instrument

A financial document or tool that directs the payment of money, often used in transactions to specify the payer and payee.

Negotiable

Capable of being discussed or modified in order to reach an agreement, or in terms of financial instruments, able to be transferred or assigned from one party to another.

Identified Person

An individual who has been recognized or named in a specific context or for a particular purpose.