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FNFS, Ltd. v. Security State Bank and Trust

Checks presented for final settlement are not negotiated and therefore do not require an endorsement.

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Appellant FNFS, LTD. d/b/a B&W Finance Company (“B&W”) appeals a summary judgment granted in favor of appellee Security State Bank and Trust (the “Bank” or “Security”). *fn1 In six issues, B&W contends that the district court erred in finding that B&W failed to establish a material fact issue precluding summary judgment. We affirm the judgment.

FACTUAL AND PROCEDURAL BACKGROUND

The relevant facts are undisputed. B&W began a banking relationship with Security in 1995. In 1996, B&W hired Rudy Flores as its Marble Falls branch manager. During his employment, Flores, an authorized signatory of B&W’s deposit account with Security, prepared and presented numerous checks drawn on B&W’s account. These checks prepared by Flores were payable to the order of Security. When the checks were presented to the Bank for payment, the Bank gave Flores cash and deducted the check amounts from B&W’s account. In addition to the checks prepared by Flores, other B&W checks made payable to the order of various named payees were also presented to the Bank. The checks payable to Security and the third-party checks were paid without endorsement. *fn2

 
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