Bearer Instruments

FACTS: Eligo Gaitan borrowed the funds to buy real property in Downers Grove, Illinois, and signed a note payable to Encore Credit Corp. Encore indorsed the note in blank. Later, when Gaitan defaulted on the payments, an action to foreclose on the property was filed in an Illinois state court by U.S. Bank, N.A. The note was in the banks possession, but there was no evidence that the note has been transferred or negotiated to the bank. ISSUE: Can U.S. Bank enforce payment of the note? Why? Or Why Not? [U.S. Bank National Associate v. Gaitan, 2013 TL App (2d) 120102-U, 2013 WL 160378 (2013)] DECISION: Two to three sentences answering the case questions. LEGAL REASONS: 2-3 paragraphs in detail to support your DECISION.