My question involves collection proceedings in the State of: CA
Getting ready to go to trial and finally getting the P's attorney to respond and supply to my demand for BoP. Being genuinely confused about which loan they're trying to sue me on, I received some information today only after I submitted a motion to exclude evidence.
My question now is that given that it doesn't specify on the promissory note that they sent me, whether this loan was a UCC Art 3 or Art 9, is my loan considered a negotiable instrument? Apparently the SoL for collections depends on whether the debt was a negotiable instrument. Most sources that I consulted indicates that student loans are not usually negotiable instruments.
This is important because while there are other fact issues I need to research and dig out of my files, the statements that they provided clearly indicates that my default was past the SoL date of the suit filed, which is 4 years in CA.
So to reiterate, are typical student loans considered a negotiable instrument?