Modern Homes Construction Co. v. Tryon Bank & Trust Co.

Plaintiffs aver that they are entitled to recover from defendant on either of two theories: (1) Defendant was negligent in paying Durham, an unauthorized person, without ascertaining whether he had authority to endorse the check and receive the proceeds, when a proper investigation would have revealed his lack of such authority; or (2) Defendant accepted the check when it paid it on an unauthorized endorsement. A pleader’s right to recover, however, is not determined by the theories which he formulates in the complaint; he may recover upon any theory which is supported by the facts alleged…