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INTERSTATE SEC. CO. v. HAMRICK'S AUTO SALES, INC.

No. L-485.

238 So.2d 482 (1970)

INTERSTATE SECURITIES COMPANY, a Corporation, Appellant, v. HAMRICK'S AUTO SALES, INC., a Company, Northwestern National Insurance Company, a Corporation, Appellees.

District Court of Appeal of Florida, First District.

August 18, 1970.

Attorney(s) appearing for the Case

Blalock, Holbrook, Lewis, Paul & Bennett, Jacksonville, for appellant.

Dean Boggs of Boggs & Colee, and Robert B. Horner, Jacksonville, for appellees.

SPECTOR, Judge.

The sole question presented by this appeal is whether a person furnishing "floor plan" financing to automobile dealers may recover under the surety bond required of motor vehicle dealers by Section 320.27(10), Florida Statutes, F.S.A.

Pursuant to this statute, defendant Hamrick entered with defendant Northwestern into a surety bond agreement of $5,000.00 providing coverage for any person suffering a loss as a result of Hamrick's failure to...

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