Legal Opinion
AOD Federal Credit Union v. State Farm
Court of Civil Appeals of Alabama
Decided November 23, 2005No. 2030931PublishedCited by 3 opinions
1Opinion of the Court
This appeal concerns the proper allocation, under Alabama's version of Articles 3 and 4 of the Uniform Commercial Code ("the UCC"), see Ala. Code 1975, § 7-3-101 et seq. and § 7-4-101 et seq., of losses resulting from a banking institution's acceptance of a insurer's draft made payable jointly to three payees without all the payees' endorsements.
In November 1998, a fire damaged the house of Thomas E. Burt, Jr., and Rhonda L. Burt. Title to the lot on which the house was located was encumbered by two mortgages, a first mortgage held by Nations-Banc Mortgage Corporation ("Nations-Banc") and a…
Also in this document: Concurrence.
2Cases cited12 opinions
- American Liberty Insurance Co. v. Amsouth BankSupreme Court of Alabama · 2002
- Federal Deposit Insurance Corporation v. Marine National Bank of JacksonvilleCourt of Appeals for the Fifth Circuit · 1970
- Stapleton v. First Security BankMontana Supreme Court · 1983
- Feldman Construction Co. v. Union BankCalifornia Court of Appeal · 1972
- Federal Deposit Insurance Corp. v. Marine National Bank of JacksonvilleDistrict Court, M.D. Florida · 1969
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3Cited by3 opinions
- BMW Financial Services, NA v. Bill Heard Enterprises, Inc. (In Re Bill Heard Enterprises, Inc.)United States Bankruptcy Court, N.D. Alabama · 2010
- Lawson v. Brian Homes, Inc.Court of Civil Appeals of Alabama · 2006
- Lawson v. Brian Homes, Inc.Court of Civil Appeals of Alabama · 2006