Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond

Exercise 6

Andersen gave the following undated, handwritten promissory note to the Great Lakes Nursery Corporation for the purchase of 65,000 trees: "Robert Andersen promises to pay to Great Lakes Nursery Corporation at Waukesha, Wisconsin, six thousand four hundred twelve dollars with interest at 7% per annum." Great Lakes Nursery, in payment of a debt, transferred the note to the First Investment Co., which questioned its negotiability. Is this note negotiable? (First Investment Co. v. Andersen, Utah 621 P.2d 683)