Blanchard v. Bank of Morgan City & Trust Co.

OTT, Judge.

In April, 1933, the plaintiff executed two notes in favor of the Bank of Morgan City & Trust Company, one for $150 and the other for $500, both of which notes matured in July, 1933. At the time these two notes were executed (which were actually renewal notes) the bank was operating on a restricted basis under the proclamation of the President of the United States, and the Governor of the State, and the rules and orders issued thereunder to meet the banking crisis which resulted in March, 1933. The bank was operated on a restricted paynlent of deposits until December 1, 1933, at…