Guaranty Federal Savings Bank v. Horseshoe Operating Co.

ON MOTION FOR REHEARING

HIGHTOWER, Justice.

Petitioners’ and Respondent The Horseshoe Operating Company’s motions for rehearing are overruled. The opinion of January 3, 1990 is withdrawn and the following is substituted.

These consolidated cases concern a savings and loan association’s liability on its so-called “teller’s check.” A “teller’s check” is a check drawn by a savings association on its account at another financial institution and made payable to the person designated by the customer purchasing the check. In each case, the customer delivered the teller’s check to the designated payee,…