Becker v. National Bank and Trust Co.

In this case involving the Uniform Commercial Code, National Bank and Trust Company (the Bank) sought recovery below on six promissory notes executed respectively by each of six couples (collectively, the Makers). The Bank held the notes as collateral for a loan made to United Leasing Corporation (United) and instituted the present action against the Makers upon United’s default.

The parties agreed to submit the case to the trial court upon discovery depositions and pretrial briefs. Ruling that the Bank was a holder in due course entitled to recover on the notes, the court entered a separate…