Pendleton v. McFarlane
Supreme Court of Louisiana
1Opinion of the Court
LE BLANC, Justice.
On November 28, 1939, defendant, F. G. McFarlane, obtained $500 on a loan made to him by the plaintiff, Forrest C. Pendelton. A note for the amount of the loan dated the same date, and made payable in ninety days with interest at 6% per annum was executed by defendant. At the same time he signed a letter addressed to the plaintiff in which it is stated that as security for the loan, he pledged the entire contents of his gymnasium and turkish bath located in the Senator Hotel.- These articles are fully described in the letter. The letter also .contains the following clause…
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