Friendly National Bank of Southwest Oklahoma City v. Farmers Insurance Group

LAVENDER, Justice:

The parties hold the same position they held in the trial court. The plaintiff is Friendly National Bank of Southwest Oklahoma City (Friendly National). The defendant is Farmers Insurance Group (Farmers).

The pertinent portion of the petition filed by the plaintiff alleges:

On September 22, 1977, defendant issued a claims draft payable “On Acceptance of Commerce Bank of Kansas City” for the sum of $680 payable to the order of Deborah Crippen and signed by one Arlene M. Smith on behalf of defendant.

Deborah Crippen presented the draft to plaintiff, endorsed the same for deposit,…