First Bank & Trust Co. v. Dumas Independent School District, Dumas

OPINION

McDONALD, Chief Justice.

This is an appeal by plaintiff Bank from take-nothing judgment against it, in. suit for recovery on warrants issued by defendant School' District.

Plaintiff Bank sued defendant School District alleging defendant on July 12,1965, entered a tax data contract with McMorries & Company and on July 15, 1965, issued negotiable warrants payable to McMorries, which warrants were later acquired by plaintiff in ordinary cause of business as a good-faith purchaser for value. Plaintiff alleged it purchased warrants 1 thru 6 due date 12-1-66; 7 thru 12 due date 12-1-67; 13 &…