Mid-Continent Casualty Co. v. First National Bank & Trust Co. of Chickasha

IRWIN, Justice:

A contractor and a property owner entered into a contract to construct certain improvements. The contractor became financially unable to pay the claims of mate-rialmen. A dispute arose between First National Bank & Trust Company of Chickasha (appellant), which loaned money to the contractor and took an assignment of part of the contract earnings, and the contractor’s surety, Mid-Continent Casualty Company (appellee), who paid the claims of materialmen and took assignments of their rights. The bank and surety both claim superior right and title to money withheld by the property…