Vetter v. Federal Deposit Ins. Corp.

This is a promissory note case.

In 1971 Mr. Vetter executed a note for $15,504.68 to a certain Louisiana bank. On December 3, 1976 the Louisiana bank was declared insolvent by the state's Commission of Financial Institutions and the note of Mr. Vetter was later sold to the Federal Deposit Insurance Corporation (F.D.I.C.). Thereafter, from January 12, 1977 to August 4, 1978, Mr. Vetter made nine principal and interest payments to F.D.I.C. upon this note which totaled $3,273.62 according to the records of F.D.I.C.

F.D.I.C. sued Mr. Vetter upon the note for $6,670.80, plus interest, attorneys'…