Peerless Insurance Company, and North American Systems, Inc. v. Texas Commerce Bank--New Braunfels, N.A.

IRVING L. GOLDBERG, Circuit Judge:

This diversity case involves the question whether § 3-419 of the Uniform Commercial Code displaced the common law action for money had and received under Texas law. It arises, one could say, from Vincent J. Menier’s desire for more cream in his coffee. While Joe Dimaggio confidently extolled the virtues of “Mr. Coffee” coffee makers, which are manufactured by appellant North American Systems, Inc., Menier, the Vice President of North American’s Fairfield Filter Division, pilfered and filched checks through the financial filter of forged endorsements. Menier…