PANHANDLE BANK & TRUST CO. v. GRAYBAR ELEC. CO., INC.

No. 8316.

492 S.W.2d 76 (1973)

PANHANDLE BANK & TRUST COMPANY, Appellant, v. GRAYBAR ELECTRIC COMPANY, INC., and Locus Construction Company, Inc., Appellees.

Court of Civil Appeals of Texas, Amarillo.

Rehearing Denied March 26, 1973.


Attorney(s) appearing for the Case

Gassaway & Gurley, Jody G. Sheets, Borger, for appellant.

Arthur J. Lamb, Amarillo, for appellee Graybar Electric Co., Inc.

Appellee Locus Constr. Co., Inc., did not file a brief.


ELLIS, Chief Justice.

This is a suit involving the question of superiority of rights to certain funds deposited in court claimed by (1) a materialman-garnishor holding a judgment previously obtained against a subcontractor to which the garnishee, the general contractor, was indebted under a construction contract; and (2) an interpleaded lending institution, assignee of the subcontractor's accounts receivable and contract rights. The trial court awarded the deposited...

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