H. C. Drew Manual Training School v. Calcasieu Nat. Bank

FOURNET, Justice.

The H. C. Drew Manual Training School instituted this action against the Calcasieu National Bank in Lake Charles, in liquidation, and its three liquidators, to have can-celled its note in the sum of $10,000 payable to and held by defendant bank, and also for the return of real estate mortgage bonds of the Lake Charles Rice Milling Company of Louisiana valued at $10,000, which were pledged as collateral to its note, and also to recover certain amounts which had been paid to the defendant on the note, on the ground that the execution of the note and pledge was ultra vires and…