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OCEAN BANK OF MIAMI v. INV-UNI INV. CORP.

No. 91-273.

599 So.2d 694 (1992)

OCEAN BANK OF MIAMI, a state banking corporation, Appellant, v. INV-UNI INVESTMENT CORP., a Florida corporation, Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied June 16, 1992.

Attorney(s) appearing for the Case

Kirkpatrick & Lockhart and Warren R. Trazenfeld, Miami, for appellant.

Richard S. Rachlin, West Palm Beach, for appellee.

Before BARKDULL, HUBBART and FERGUSON, JJ.

FERGUSON, Judge.

The question presented in this appeal is whether the conduct of Ocean Bank in receiving a mortgage from a corporate borrower without conducting an investigation into the authority of the borrowers's officers amounted to a fraud so that the mortgage should be nullified.

Background

Jesus Amado was the president, treasurer, and sole director of Inv-Uni Investment Corporation. His son, Jesus Amado, Jr., was the corporation's vice...

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