Federal Deposit Ins. Corp. v. West

I agree that the Court of Appeals correctly reversed the summary judgment granted by the trial court to the Federal Deposit Insurance Corporation. If the FDIC is attempting to recover from Davidson West on the checks themselves, then it is not entitled to summary judgment because the FDIC has neither placed the checks in evidence nor alleged that it is in possession of the checks. To establish status as a "holder” and sue on a negotiable instrument, possession is the first requirement. Code Ann. § 109A-1 — 201 (20); Lloyd v. Lawrence, 472 F2d 313 (5th Cir. 1973). Although suits to enforce…