Study each of the following cases carefully. Briefly state the principle of law and your decision.
Negotiability Locke gave two promissory notes to Consumer Food, Inc., in payment for merchandise he purchased. The notes said, “Buyer agreed to pay to seller.” Consumer Food, Inc., assigned the notes to Aetna Acceptance Corporation. Were these notes negotiable instruments? [ Locke v. Aetna Acceptance Corporation , 309 So. 2d 43 (Florida)]
Principle of Law:
______________________________________________________
______________________________________________________
Decision:
______________________________________________________
______________________________________________________