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Bill Buyer executes a $1,000 promissory note and delivers it to Sam Seller to pay for certain widgets that he bought for his inventory. Sam

Bill Buyer executes a $1,000 promissory note and delivers it to Sam Seller to pay for certain widgets that he bought for his inventory. Sam properly negotiates the note to First National Bank for $500. They have no knowledge of any problems. After delivery, Bill finds the widgets are defective. He refuses to pay the note. Can he do so?

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