American Bank of Commerce v. M & G Builders, Ltd.

The implications of the rule contained in the majority opinion extend far beyond this dispute. It will have a statewide impact on present practices in banking, contracting and other businesses.

The Coachman letter to ABC simply said “funds * * * will be paid to Sunland * * * per subcontract agreement dated March 4,1976 * * * by checks * * * to Sunland * * * and American Bank * * * This assignment of funds is made at the request of Wayne H. Gribble, President of Sunland * * * ” (Emphasis added.)

Does this mean that only when the funds become due to Sunland, under the terms of the contract, they…