Commercial Nat. Bank v. Sanders
Supreme Court of Louisiana
Appeal from Fifteenth. Judicial District Court, Parish of Beauregard; Alfred M. Bar-be, Judge. Action by the Commercial National Bank against W. J. Sanders and others.. Judgment for plaintiff, and defendants appeal.
1Opinion of the CourtProvosty, J.
Powell Bros. & Sanders Company made their note to their own order and by themselves indorsed for $15,000 to be used as collateral for a loan they desired to obtain, and the defendants indorsed this note for accommodation. Powell Bros. & Sanders Company obtained a loan of $7,500 from the plaintiff bank, and gave the collateral in pledge. When the principal obligation, which was represented by a note, matured, Powell Bros. & Sanders Company paid one-half of its amount, and gave a new note for the other half, and subsequently they made another partial payment and gave another new note for the…
2Cases cited2 opinions
- Commercial Nat. Bank v. SandersSupreme Court of Louisiana · 1913
- Commercial Nat. Bank v. SandersSupreme Court of Louisiana · 1914
3Cited by2 opinions
- Carron v. AbounadorNew Mexico Supreme Court · 1923
- Dunnington v. Bank of CreweSupreme Court of Virginia · 1926