First Nat. Bank in Frederick v. Whitelock

2 Citing cases

  1. Port City St. Bk. v. Am. Nat. Bk., Lawton

    486 F.2d 196 (10th Cir. 1973)   Cited 7 times
    In Port City State Bank v. American National Bank, 486 F.2d 196, 13 UCC Rep. 423 (10th Cir. 1973), the payor bank, American National, was changing from machine posting to computer processing of its checks commencing Monday, December 1, 1969. Two checks were in dispute.

    Additionally, Oklahoma statutes and case law provide that a check is not an assignment of funds held by the drawee and fixes no liability on the drawee until its accepts or pays an instrument. 12A O.S.A. 3-409(1); Mid-Continent Cas. Co. v. Jenkins, 431 P.2d 349 (Okl. 1967); First Nat'l Bank v. Whitelock, 181 Okl. 431, 74 P.2d 355 (1937). Next appellant asserts that appellee adopted an order of payment that ignored first-in-first-out, and argues that appellee should be liable as a result.

  2. Mid-Continent Casualty Company v. Jenkins

    431 P.2d 349 (Okla. 1967)   Cited 8 times

    00 check drawn payable to Jenkins and Bank was not an assignment of the funds involved. The basis for this argument is that under statutes and decided cases, a check is not an assignment of funds held by the drawee and available for payment, and fixes no liability on the drawee unless and until it accepts the instrument or pays same. First National Bank, etc. v. Whitelock, 181 Okla. 431, 74 P.2d 355; 48 O.S. 1961 § 406[48-406]. We note that this section of the statute was repealed effective December 31, 1962, after this cause of action was asserted.