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AL SARENA MINES, INC. v. SOUTHTRUST BANK OF MOBILE

No. 87-208.

548 So.2d 1356 (1989)

AL SARENA MINES, INC. v. SOUTHTRUST BANK OF MOBILE, et al.

Supreme Court of Alabama.

Rehearing Denied July 14, 1989.

Attorney(s) appearing for the Case

W. DeWitt Reams and William W. Watts III of Reams, Vollmer, Philips, Killion, Brooks & Schell, Mobile, for appellant.

Wesley Pipes and Joseph J. Minus, Jr. of Lyons, Pipes & Cook, Mobile, for appellee SouthTrust Bank of Mobile.

Frank McRight of McRight, Jackson, Myrick & Moore, Mobile, for appellee Merrill Lynch, Pierce, Fenner & Smith.

ON APPLICATION FOR REHEARING

ALMON, Justice.

The opinion originally issued in this case is withdrawn and the following is substituted in its place.

This appeal principally involves the liability of a depositary bank for accepting, over a forged indorsement, a check payable to a corporate payee for deposit into an individual's account, without inquiring as to the authority and reason for such a deposit. The appeal is from a judgment as to two cross...

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