Mohr v. State Bank Of Stanley

734 P.2d 1071 (1987)

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Nature of the Case

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Facts

Mohr (P) and Loyd each owned 50% of Tri-County Farm Equipment Co. That bank account was with the First National Bank of Olathe. By directors' resolution, all checks payable to the company could be endorsed for deposit in that account by any corporate officer. Loyd had an oil business under the name of Earthborn Energy. That account was in the State Bank of Stanley. Loyd endorsed eight checks payable to Tri-County over to Earthborn Energy. Tri-County sued and recovered a judgment against State Bank (D) for conversion of those checks. D appealed.