First Federal Savings & Loan Ass'n of Salt Lake City v. Gump & Ayers Real Estate, Inc.

OPINION

BILLINGS, Judge:

First Federal Savings & Loan Association of Salt Lake City (“First Federal”) *1097brought suit against Air Terminal Gifts, Inc. (“Air Terminal”) on a promissory note executed by Air Terminal and payable to Sunayers Limited Partnership (“Sunay-ers”). The Air Terminal note had been assigned to First Federal by Gump & Ayers Real Estate, Inc. (“Gump & Ayers”), the general partner of Sunayers. After an evidentiary hearing, the trial court found the note was not negotiable and First Federal was not a holder in due course. First Federal takes exception to both rulings, claiming it…