Farmers & Merchants Bank, a Tennessee Corporation, v. Midway Supply Company, Inc., a Tennessee Corporation

This appeal involves a suit to recover money advanced by a construction lender to a building supply company to pay for building supplies which the bank mistakenly thought had been delivered to the bank’s debtor. Plaintiff, Farmers & Merchants Bank (Bank) sued defendant, Midway Supply Company, Inc., (Midway) to recover the sums advanced after Midway failed to deliver the supplies and applied the advanced funds to pay other accounts of the Bank’s debtor. From the judgment of the Circuit Court awarding judgment to Bank for the advanced funds less certain credit, Midway has appealed.