Strickland Transportation Co. v. First State Bank

While agreeing that under our decisions the petitioner has no direct cause of action against the bank, I dissent from the majority’s holding that the petitioner cannot recover from the bank as assignee of the depositor, White Auto Store.

The cause of action which White Auto Store undertook to assign to petitioner consisted of the rights of White Auto Store, as a depositor in the respondent bank and as the drawer of the checks, to recover against the bank for wrongfully paying checks to Akard, who had no authority to indorse or to cash them. Undoubtedly the drawee bank owed a contractual duty…