Henry purchased an automobile from Iso Motors, and as a part of the payment, gave Iso Motors a promissory note in the amount of $4,000. If the promissory note is negotiated to Friendly Finance Company, the company (as a holder), may enforce payment.

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As a holder of the promissory note, Friendly Finance Company has the right to enforce payment from the maker of the note, in this case, Henry, according to the terms of the note.

Henry Purchased an Automobile from Iso Motors, and as a Part