Cengage Advantage Books: Law for Business 18th Edition by John Ashcroft ,Janet Ashcroft

Exercise 6

GreenPoint Credit, LLC had a security interest in a mobile home owned by Rosetta Lunsford. The home was destroyed by fire, and Lunsford's insurer, Kentucky Farm Bureau Mutual Insurance Co., issued a check payable to Lunsford and GreenPoint. Lunsford indorsed the check and presented it to Tri-County National Bank for payment. Tri-County negotiated the check without GreenPoint's indorsement. GreenPoint sued Tri-County. Was Tri- County liable to GreenPoint? [Tri-County Nat. Bank v. GreenPoint Credit, LLC, 190 S.W.3d 360 (Ky. Ct. App.)]