The case of Michigan Basic Property Insurance Association v. Washington (MICHIGAN BASIC PROPERTY INSURANCE ASSOCIATION V. JOYCE WASHINGTON, CLEVELAND POWELL, COUNTRYWIDE HOME LOANS, DIMONTI & ASSOCIATES, and SAN DIEGO NATIONAL BANK, and FIFTH THIRD BANK), presents the issue of liability for payment of a check with a forged indorsement. 

Please search the INET and read this case; after you review the case analysis, determine if the appellate court reached the right conclusion. Was the appellate decision correct or in correct? Explain.