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Original Documents/ Negotiable Instruments/ Federal Student Loans

Eleventh Circuit holds that promissory notes evidencing federally insured or guaranteed student loans are not generally negotiable instruments subject to Florida’s commercial paper law. Therefore, the holder need not produce the original promissory note in order to recover on the note. United States v. Carter, No. 12-12923 (11th Cir. January 2, 2013).