Able made a note payable to Baker; Baker negotiated the note to Carr. Carr has the same standing as an assignee of a contract.

Name: Able made a note payable to Baker; Baker negotiated the note to Carr. Carr has the same standing as an assignee of a contract.
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Carr, as a holder of a negotiable instrument, has rights that are superior to those of an assignee of a contract, including the right to enforce the note free from many defenses that could be raised against the original payee.

Able Made a Note Payable to Baker; Baker Negotiated the Note