Liberty Mortgage Corp. v. Fiscus

Summary

The court affirmed the judgment invalidating the deed of trust because the purported maker could assert forgery even against a party claiming holder-in-due-course status. It held that the forgery defense was not barred because the maker neither negligently contributed to the forgery nor ratified the unauthorized documents. The court expressly declined to decide whether a deed of trust is a negotiable instrument under Article 3.