[Download] "Citizens State Bank v. National Surety Corp." by Colorado Supreme Court ~ Book PDF Kindle ePub Free

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eBook details

• Title: Citizens State Bank v. National Surety Corp.
• Author : Colorado Supreme Court
• Release Date : January 19, 1980
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 63 KB

Description

We first address the question whether plaintiffs stated a cause of action for conversion. The common law recognized the right of a payee to maintain an action for conversion against a bank under circumstances where the bank wrongfully paid out moneys based upon a forged endorsement. Denver Electric v. Phipps, 143 Colo. 530, 354 P.2d 618 (1960). See also 100 A.L.R. 2d 670 (1965). Section 4-3-419(1)(c), C.R.S. 1973, which provides that "[a]n instrument is converted when . . . [i]t is paid on a forged indorsement", merely codifies the generally recognized common law cause of action.

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