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Business Organizations Keyed to Bouchoux
Ratner v. Central National Bank of Miami
Citation:414 So. 2d 210 (1982)
Joel S. Ratner contends that the trial court erred in granting summary judgment and finding Ratner personally liable in authorized sales drafts which Central National Bank had provisionally credited to the account of the Stereo Corner, Inc., pursuant to a merchant’s Mastercharge agreement. Under the agreement, the merchant warranted each sales draft and agreed to be liable for certain improper sales drafts including those executed or accepted fraudulently. The Stereo Corner, Inc. was not incorporated until eight months after the contract was signed. When Central was unable to recoup its losses by charge-back to Stereo Corner’s account, Stereo Corner having become insolvent, Central sued Ratner claiming Ratner was individually liable on the contract.
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