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SULLIVAN v. WILTON MANORS NATIONAL BANK

No. 71-301.

259 So.2d 194 (1972)

Robert A. SULLIVAN and Robert A. Sullivan Construction Co., Inc., a Florida Corporation, Appellants, v. WILTON MANORS NATIONAL BANK, a Corporation Chartered under the Banking Laws of the State of Florida, et al., Appellees.

District Court of Appeal of Florida, Fourth District.

March 9, 1972.

Attorney(s) appearing for the Case

Vincent Meade, Jr., of Monast & Meade, Fort Lauderdale, for appellants.

J. Patrick Dyal, of Rogers, Morris & Ziegler, Fort Lauderdale, for appellees.

WALDEN, Judge.

Going straightway to the critical issue, we must decide the liabilities created when a negotiable instrument, payable to two payees, is cashed bearing the forged endorsement of one of the payees.

The controlling statute is Chapter 673.116, F.S. 1969, F.O.A., same being part of the Uniform Commercial Code:

"673.116 Instruments payable to two or more persons. — An instrument payable to the order of two or more persons:

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