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CLIENTS' SEC. FUND v. ALLSTATE INS. CO.

219 N.J. Super. 325 (1987)

530 A.2d 357

CLIENTS' SECURITY FUND OF THE BAR OF NEW JERSEY, PLAINTIFF, v. ALLSTATE INSURANCE COMPANY, DEFENDANT-RESPONDENT, AND FIRST NATIONAL BANK OF NEW JERSEY, BY ITS SUCCESSOR FIRST FIDELITY BANK, N.A., NORTH JERSEY, DEFENDANT-APPELLANT, AND MIDLANTIC NATIONAL BANK, DEFENDANT.

Superior Court of New Jersey, Appellate Division.

Decided August 18, 1987.

Attorney(s) appearing for the Case

Paul F. Campano argued the cause for appellant (Crummy, Del Deo, Dolan, Griffinger & Vecchione, attorneys; Robert W. Delventhal and Paul F. Campano on the briefs).

James P. Brady argued the cause for respondent Allstate Insurance Company of New York (Novins, Farley, York, DeVincens & Pentony, attorneys; James P. Brady on the brief).

Michael F. O'Neill argued the cause for respondent Allstate Insurance Company of New Jersey (Purcell, Ries, Shannon & Mulcahy, attorneys; Michael F. O'Neill on the brief).

Michael J. Kassel argued the cause for respondent New Jersey Manufacturers Insurance Company (Yampell & Kaplan, attorneys; Robert M. Kaplan on the brief).

Kenneth J. Bossong filed a statement in lieu of brief.

Before Judges KING, HAVEY and MUIR, Jr.

The opinion of the court was delivered by HAVEY, J.A.D.

Defendant First Fidelity Bank, N.A. (First Fidelity) appeals from a summary judgment dismissing its cross-claim against Allstate Insurance Company (Allstate). The appeal involves application of the so-called "impostor rule", under § 3-405 of the Uniform Commercial Code as enacted in New Jersey at N.J.S.A. 12A:3-405. The "impostor rule" makes an indorsement...

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