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FAIR PARK NAT. BANK v. SOUTHWESTERN INV. CO.

No. 19001.

541 S.W.2d 266 (1976)

FAIR PARK NATIONAL BANK and Juanita Akins, Appellants, v. SOUTHWESTERN INVESTMENT COMPANY, Appellee.

Court of Civil Appeals of Texas, Dallas.

Rehearing Denied September 30, 1976.

Attorney(s) appearing for the Case

James H. Baumgartner, Jr., Vial, Hamilton, Koch, Tubb, Knox & Stradley, Dallas, for appellants.

Cleo G. Clayton, Jr., Clayton & Stubblefield, Amarillo, for appellee.

GUITTARD, Justice.

The "impostor rule" of the Uniform Commercial Code1 fixes the loss resulting from the fraud of an impostor on the drawer of a check or draft who delivers it to the impostor rather than on a subsequent holder, regardless of the lack of a genuine endorsement by the nominal payee. This case involves applicability of this rule to a draft delivered to one impostor but payable to two payees. We hold that the impostor rule...

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