Haik transferred his stock in PetroCom, an oil exploration company, to Rowley in exchange for five $10,000 promissory notes. The notes were signed by Rowley and indorsed by Ro w ley’s son, Stephen. Rowley failed to pay the notes when they became due. No presentment for payment was made by Haik on the due date, nor was a timely notice of dishonor given to Rowley’s son, Stephen. Could Haik hold Stephen liable on the notes as an indorser ? Explain. Haik v. Rowley, 377 So.2d 391 (LA).