Ordered that the order is reversed insofar as appealed from, on the law, with costs, the appellant's motion for summary judgment is granted in its entirety, the plaintiffs' motion is denied in its entirety, the complaint is dismissed insofar as asserted against the appellant, and the action against the remaining defendant is severed.
This Court has recognized the "clear intent" evidenced by the drafters of UCC 3-419 (3) "to absolve depositary or collecting banks from...
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