McLachlen National Bank v. Fields

Appellant McLachlen National Bank instituted this suit to recover on a promissory note indorsed by appellees Louis I. S. Fields and Constance B. Fields. The trial court dismissed the complaint after determining that the action was barred by a prior judgment obtained against the maker of the note. We conclude that dismissal was improper.

The facts pertinent to this appeal are the following. In 1970 McLachlen National Bank loaned a sum of money to H.V.H., Inc., a restaurant business. In return, the corporation, by its president Louis Fields, executed a promissory note in the amount of $4,452.…