Livingston Industries, Inc. v. Walker Bank & Trust Co.

WAHLQUIST, District Judge:

(dissenting).

I respectfully dissent.

The problem presented has been a common one in legal history. It arises when a third party sues a bank alleging that the bank had been told by a depositor to pay the third party a sum of money then on deposit and the bank later refused to do so. The third party usually alleged a third party beneficiary contract or an equitable assignment of funds. The bank usually alleged that no instructions had been given, or that the instructions were merely oral and the bank insisted that the matter be *1119reduced to writing. The problem is…