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STRINGFELLOW v. FIRST AMERICAN NAT. BANK

878 S.W.2d 940 (1994)

Julia Locke STRINGFELLOW, Plaintiff-Appellant, v. FIRST AMERICAN NATIONAL BANK, Defendant/Third Party, Plaintiff/Appellee, v. W.T. STRINGFELLOW AND COMPANY, INC., Third Party Defendant/Appellee.

Supreme Court of Tennessee, at Nashville.

May 9, 1994.

Attorney(s) appearing for the Case

Phillip A. George, Nashville, for appellant.

Frank H. Reeves, Nashville, for appellee First American Nat. Bank.

Paula K. VanSlyke, Corbett, Crockett & VanSlyke, Nashville, for appellee W.T. Stringfellow and Co., Inc.

OPINION

ANDERSON, Justice.

We granted permission to appeal to consider the important question of whether a bank may dishonor its own cashier's check. We conclude that a bank may not refuse to honor its cashier's check and that the payee is entitled to recover from the bank for its dishonor. In this case, the bank is subrogated by statute to the rights of the drawer against the payee. Because the evidence establishes that the payee owed the drawer...

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