Del Rio Discount, Corp. v. Commercial Bank of Florida

The trial court properly granted a summary judgment in favor of the several banks pursuant to provisions of Section 673.405(l)(b)1 Because this section provides an absolute defense (absent a showing of bad faith) on the part of a bank as a result of a maker or its agent designating a fictitious payee and then endorsing same, McAdam v. Dean Witter Reynolds, Inc., 896 F.2d 750 (3rd Cir.1990); Western Casualty & Surety Company v. Citizens Bank of Las Cruces, 676 F.2d 1344 (10th Cir. 1982); Fidelity & Casualty Company v. First City Bank of Dallas, 675 S.W.2d 316 (Ct.App.Tex.1984); Hinkle d/b/a…