Rains, Co. Treas. v. Mercantile Natl. Bank

This suit was brought by Mercantile National Bank at Dallas against Upton County and the county treasurer of Upton County to recover the aggregate sum of approximately 1100 warrants drawn on three designated funds of Upton County during the year 1942, viz: general fund, $32,352.96; Officers’ salary fund, $10,212.74; road and bridge fund, $21,835.94. The county defended the suit upon the theory that the bank acquired the warrants in virtue of a contract between Upton County and Rauscher-Pierce, Company of Dallas, whereby the company agreed to purchase warrants to the extent of $90,000.00…