2.
TMS had to confirm whether the contract between NESCOR and the Antunas contains FTC language or not. According to Samuelson, the Federal Trade Commission offers a special rule for a consumer credit contract. It reles that if a promissory note contains the FTC requierd language, nobody can be a holder in due course of an instrument. Since the contract contained the required FTC language, TMS couldn't be a holder in due course (Samuelson, 510). Therefore, even though TMS was not acting bad in faith, TMS cannot be a holder in due course. In addition, TMS could have confirmed that the NESCOR sales person was registered or not. To be a holder in due course, a person must be in good faith (Samuelson, 507). Since connecticut law doesn't allow a
