YOUNG, Judge.
ON PETITION FOR REHEARING
IC 1976, 26-1-3-408 (Burns Code ed.) provides that "no consideration is necessary for an instrument or obligation thereon given in payment of as security for an antecedent obligation of any kind." IC 1976, 26-1-3-102(3) (Burns Code ed.) states that "`Instrument' means a negotiable instrument." A negotiable instrument is defined in IC 1976, 36-1-3-104(1) (Burns Code ed.) as a writing which is signed by the maker or...
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