Baitcher v. National Industrial Bank of Miami

BARKDULL, Judge.

Appellant executed an agreement of guaranty in connection with a loan from National Industrial Bank of Miami to Great Southern Wholesale Grocery Corporation, for the purpose of purchasing two forklifts.

The Bank assured the guarantor that it would cause the necessary Uniform Commercial Code documents to be filed against the two fork lifts, in order to perfect its security interest therein. The Bank failed to promptly or properly do this and therefore lost a security interest in the chattels. The principal obligor went into bankruptcy and the Bank failed in a reclamation…