ALPERT, Judge.
This case of first impression requires us to construe § 3-419 of the Annotated Code of Maryland, Commercial Law Article (1992 & Supp. 1993) (hereinafter "CL") and decide whether an unauthorized endorsement is a "forged indorsement" within CL § 3-419(1)(c).
Appellant, Maryland Industrial Finishing Co., Inc., (MIFCO) is a Maryland corporation and maintains its principal place of business in Prince George's County.
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