Rule: In transferring an instrument for consideration, a person warrants that they are entitled to enforce the instrument, it is not forged, the signatures are authentic and authorized, there are no claims or defenses against the instrument and there are no insolvency problems regarding it.
(FP: Thief is not entitled to enforce the check. Additionally, Payees signature was forged (not authorized). Therefore, Thief breached transfer warranties. Seller took in good faith, for value, and without notice to any claims or defenses against the check, so Seller is entitled to enforce the check against Thief for the full amount of the check.