State Bank v. Estate of Braly

The opinion of the court was delivered by

Burch, J.:

The question in this case is one relating to election of remedy.

Jesse T. Braly was director, secretary and active manager of the Farmers’ Grain and Mercantile Company of Kingman. Braly, using the name of the company as drawer, drew two drafts on a grain company in Wichita, each for $600, in favor of the State Bank of Kingman. To each draft was attached a bill of lading for a carload of grain. The bank gave the Kingman company credit on its checking account for the drafts. The company exhausted the credit and overdrew its account. The bills of…