Bank of El Paso v. Powell

OPINION

OSBORN, Justice.

This appeal involves a hold harmless agreement signed by a Bank customer in an effort to stop payment on a Bank money order, and a setoff of income earned by the Bank while holding the funds used to purchase the Bank money order. We affirm the trial Court’s judgment allowing such setoff.

On December 15, 1970, Ralph Powell purchased a Bank money order from The Bank of El Paso, which was payable to the order of Eduardo R. Castro in the sum of $20,-820.04. On December 22, 1970, and prior to any payment, Powell signed a stop payment order which included an agreement to hold…