1. "Billy Bob borrowed $100,000 from 1st National Bank, signing a negotiable promissory note and mortgage deed. After holding the note for 6 months, 1st National sold and delivered the promissory note and mortgage deed to Last National Bank. Two days after scanning and saving copies of the assigned documents, a fire destroyed all of Last National s files. If Billy Bob refuses to pay the note, will Last National be able to enforce the obligation against Billy Bob?"

   		"No, because a person is not entitled to enforce a note unless thay have possession."
   		"Yes, because Last National gave value for the assignment."
   		"Yes, because Last National could prove that they had possession of the original note prior to the time that it was destroyed"
   		"No, because Assingnees cannot enforce notes that are more than 6 months old"