89 S.E.2d 567 PENDLEY et al. v. CREDIT EQUIPMENT CORP. 35804.Court of Appeals of Georgia. DECIDED SEPTEMBER 28, 1955. Under the terms of the Negotiable Instruments Law, the payee named in a negotiable promissory note can not be a “holder in due course.” DECIDED SEPTEMBER 28, 1955. Page 659 Action on notes. Before Judge Forehand. […]