A negotiable promissory note was issued by Gold. It was properly issued in all ways. Nevertheless, the payee managed to alter the note and raise the amount from $500 to $5,000. A holder in due course presented the note for payment to Gold who discovered the alteration. In this case:
A) Gold is liable for $500 only.
B) Gold is liable for the full $5,000.
C) Gold has no liability on the altered note.
D) Gold is liable for $2,500.
Correct Answer:
Verified
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