ucc, article3

Theplaintiffsuestorecoveronthefollowingpromissorynote:

For valuereceived, RobertAnderson ofNephi, Utah,promises to pay to Great Lakes Nursery Corp.at Wyndham New Hampshire, 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%perannum addedtotheprincipalamountof

$4,750.00.Thisnotemay bepre-paid withadjustment ofinterestatanytime.If thisnoteisindefault, theholder,after60dayswritten noticetotheundersigned, may declare theface of thenote due and payable if the default is not remedied within 60 days after notice.

IslRobertAnderson

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Theplaintiffs argued theywereholders induecourseofthenoteand thustook freeofthe maker's contract defenses.

Aretheplaintiffscorrect?Fullyanalyze.