Demand Promissory Notes and Commercial Loans: Balancing Freedom of Contract & Good Faith

I. Introduction II. Background … A. The Reger Case … B. The Problems Associated with Using Demand Notes in Commercial Loans III. Analysis … A. Old and Continuing Problems … B. Recognition of Demandable Notes: A Step Toward a Solution ... C. Revised Article 3—More Ambiguities ... D. Achieving Balance ... E. Freedom of Contract ... F. Good Faith ... G. Negotiability IV. Seventh Circuit’s Analysis V. Conclusion