Jefferson National Bank v. First Virginia Bank

By Judge Jack B. Stevens

The Court has had this matter under advisement following an evidentiary hearing and the receipt of briefs by counsel.

Jefferson National Bank (“Jefferson”) sues First Virginia Bank (“First Virginia”) for monies paid over to First Virginia for three cashier’s checks issued by Jefferson and presented by First Virginia for collection which bore forged endorsements. First Virginia, in turn, sues W. J. Taylor Construction Company (“Taylor”) as third party defendant since Taylor caused the forgeries to take place as part of a scheme to defraud. Taylor is in default herein.

The…