Manufacturer Co. purchased steel rods from Metals Inc. and paid with a promissory note. Metals Inc. transferred the promissory note to its landlord, Trump Properties, in satisfaction of rent owed. The steel rods were defective and Manufacturer Co. does not want to pay for them. Trump Properties presents the promissory note for payment to Manufacturer Co. Does Manufacturer Co. have to pay? No. It the defective rods were a fundamental breach, Manufacturer Co. is entitled to rescind the contract, and is not required to pay. Yes. Provided Trump Properties had no notice of the problems, it is a holder in due course and is entryjed to be paid. (No. This would be a breach of a condition under the Sale of Goods Act (Ontario) and Manufacturer Co. is entitled to rescission Yes. Once signed, the promissory note has to be honoured