Central Bank v. Builders Service, Inc.

WATSON, Judge.

Plaintiff, Central Bank, a Louisiana bank, is the holder of a promissory note executed by L. Milton Hale on behalf of Hale Electric Company in the face amount of $28,562.79. A credit of $250 dated 3/17/72 and a balance of $28,312.79 are indicated on the reverse of the note. The note states that it is secured by: “Assignment of Work Contract in the amount of $149,-625.00 dated 7-31-70 for Federal Housing Project # LA-54-3, Ruston, La.” (P-2). An act of assignment was executed on August 10, 1970, by Milton Hale d/b/a Hale Electric Company and by Mr. George Bagley on behalf of…