This appeal concerns the proper allocation, under Alabama's version of Articles 3 and 4 of the Uniform Commercial Code ("the UCC"), see Ala.Code 1975, § 7-3-101 et seq. and § 7-4-101 et seq., of losses resulting from a banking institution's acceptance of a insurer's draft made payable jointly to three payees without all the payees' endorsements.
In November 1998, a fire damaged the...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.