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FIRST STATE BANK v. REORGANIZED SCH. DIST. R-3, BUNKER

No. 9301.

495 S.W.2d 471 (1973)

FIRST STATE BANK, a corporation, Plaintiff-Respondent, v. REORGANIZED SCHOOL DISTRICT R-3, BUNKER, Missouri, and United States Fidelity and Guaranty Company, a corporation, Defendants-Appellants.

Missouri Court of Appeals, Springfield District.

Motions for Rehearing or Transfer Denied May 24, 1973 and May 25, 1973.

Attorney(s) appearing for the Case

Dewey Routh, Routh & Turley, Rolla, William E. Seay, Salem, for defendants-appellants.

Weldon W. Moore, Rolla, Morton K. Lange, St. Louis, for plaintiff-respondent.

HOGAN, Judge.

This is an action to determine the priority of claims made by the surety on the performance bond of a defaulting building contractor and a bank which had advanced money on the strength of an assignment of the proceeds of the contract. The trial court has found for the plaintiff bank on stipulated facts and the surety and the school district (which is merely a stakeholder) have appealed. Our duty is to determine whether or not the trial court's judgment...

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