Court Opinion

ID: 9766666
Source: CourtListenerOpinion
Date Created: 2023-08-29 04:56:25.867526+00
Date Added: 2024-06-11T07:30:24.573333
License: Public Domain

Steele Hays, Justice, dissenting. I believe the trial court should have granted a new trial in this case based on the verdict being clearly contrary to the preponderance of the evidence. ARCP 59(6). While the bank’s payment of this check was technically improper, that was not the cause of appellee’s damage, if indeed he has been damaged. The proof is wholly undisputed that Charles Worden, as president of Arkansas Reference Lab had complete authority to endorse checks on behalf of Arkansas Reference Lab, and regularly did so. He could have accomplished precisely the same thing that occurred here by endorsing the name of Arkansas Reference Lab and either cashing the check, or depositing it to Arkansas Reference Lab’s account and later withdrawing the funds. Either of these transactions would have been consistent with banking laws. Nor does the fact that Charles Worden deposited the $50,000 to the account of North Little Rock Med Lab mean that Arkansas Reference Lab was deprived of the benefit of the funds. It is undisputed that at least $39,546.85 of the $50,000 was used to pay salaries and current liabilities of Arkansas Reference Lab. Claude Wallace could have insisted on joint check writing authority with Worden, but he did not do so. He cannot seriously argue he was damaged by the bank’s handling of his check in view of the fact the check was returned to him shortly after May 31, 1985 yet he waited some five months to complain about it, and even then, at the suggestion of someone else. The end result of this case is that appellee not only has the 20,000 shares he purchased in Arkansas Reference Lab, which is still operating according to the undisputed evidence, but he also has laboratory equipment with a value of $7,000 to $20,000, plus having received $ 10,000 in salary from Arkansas Reference Lab. Now he has his $50,000 back with interest of $10,500.