Lamp v. First National Bank of Garretson

Marjorie Lamp sued the wrong party, to-wit: The Garretson Bank — Bank was not, and is not, the wrongdoer. Carol Braa is the wrongdoer. Lamp is suing a target defendant.

Failure to give the requisite notice pursuant to SDCL 57A-4-406(4) is, by overwhelming authority, an absolute bar to suit on the alleged forged instrument. Spears Carpet Mills, Inc. v. Century National Bank of New Orleans, 85 B.R. 86 (W.D.Ark.1988); Jensen v. EssexBank, 396 Mass. 65, 483 N.E.2d 821, 41 U.C.C. Reporting Service 1366 (1985); Space Distributors, Inc. v. Flagship Bank of Melbourne, 402 So.2d 586, 32 U.C.C.…