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

147 S.E.2d 37 (1966)

266 N.C. 648

MODERN HOMES CONSTRUCTION COMPANY and Fireman's Fund Insurance Company, Plaintiffs,

v.

TRYON BANK AND TRUST COMPANY, Defendant.

No. 286.

Supreme Court of North Carolina.

February 4, 1966.

Hedrick, McKnight & Parham, Charlotte, for plaintiff appellants.

Fairley, Hamrick, Hamilton & Monteith, Charlotte, for defendant appellee.

SHARP, Justice.

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…