Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson

تمرين 22

Negotiable Instruments
InterAmerican Car Rental, Inc. (InterAmerican), purchased its fleet of rental vehicles from Maroone Chevrolet, L.L.C. (Maroone), using financing from several local banks. InterAmerican would place an order for cars with Maroone, who would order the necessary vehicles from the manufacturer. The manufacturer would ship vehicles directly to InterAmerican and invoice Maroone. Maroone then invoiced InterAmerican. InterAmerican would then submit a draw request to its financing bank, which would issue a check for the purchase money loan. The checks were delivered to InterAmerican, but payable jointly to InterAmerican and Maroone. However, InterAmerican did not deliver checks to Maroone, but simply typed Maroone's name on the back and deposited the checks in InterAmerican's own account. InterAmerican then paid Maroone over time. Maroone was unaware that the financing checks were payable jointly to InterAmerican and Maroone. When InterAmerican went out of business, Maroone sued the depository and financing banks for accepting checks not properly indorsed by Maroone. Should Maroone recover from the banks? [ Regions Bank v. Maroone Chevrolet, L.L.C., 118 So.3d 251 (Fla. App.)]