ucc, article 3,4

Theplaintiffsuestorecover onthefollowingpromissorynote:

For value received, Robert Anderson ofNephi, Utah, promises to pay toGreat Lakes Nursery Corp.at Wyndham NewHampshire, sixthousand-four hundred twelve dollars ($6,412.00), payable asfollows:$100 per month beginning October 1, 2015 for 24 months, and then $111.30 per month for 36 months including interestcompounded at7%perannumaddedto theprincipalamountof

$4,750.00.Thisnotemay bepre-paid withadjustment ofinterestatanytime.Ifthis noteisindefault,theholder,after60 days writtennoticetotheundersigned, may declare theface ofthe note dueand payable if thedefault is not remedied within 60 days after notice.

/s/Robert Anderson

Theplaintiffs argued theywereholders induecourseofthenoteand thustookfreeofthe maker's contract defenses.

Aretheplaintiffscorrect?Fullyanalyze.