Exchange Bank & Trust Co. v. Pure Ice & Cold Storage Co.

POPE, Justice.

The question presented is whether Pure Ice & Cold Storage Company, the plaintiff and payee of a check drawn on defendant Exchange Bank & Trust Company, exercised an election to hold Exchange Bank liable for its admitted delay in returning a dishonored check within the time provided in art. 342-704 Vernon’s Ann.Civ.St. The trial court sustained Exchange Bank’s motion for judgment notwithstanding the verdict because Pure Ice, as a matter of law, failed to exercise the election. The court of civil appeals reversed the judgment and rendered judgment for Pure Ice. 408 S.W. 2d 319. In…