Citizens' Bank v. Pan-American Life Ins.

The plaintiff herein, Citizens’ Bank of Franklinton, instituted suit on April 26, 1929, against C. O. Knight as the maker, and M. R. Jones as indorser, of a certain promissory note for $5,800, which note was also secured by the pledge, as collateral, of a certain life insurance policy in the sum of $2,000 on the life of C. O. Knight, issued by the Louisiana National Life Assurance Society of New Orleans, and in which Mrs. Mattie Knight, wife of the assured, was named as beneficiary. The prayer of the plaintiff’s petition in that suit was for a personal judgment against both the maker and…