First Guaranty Bank v. Alford

EDWARDS, Judge.

The pleadings, exhibits, affidavits and depositions in the record establish the following pertinent facts, which are not in dispute.

On April 30, 1973, Dr. C. D. Alford and Mrs. Margaret W. Alford (husband and wife) both signed three documents: a collateral mortgage note in the amount of $155,000; a collateral mortgage in the same amount on a certain piece of immovable property which was Mrs. Alford’s separate property; and a written act of pledge which pledged the collateral mortgage note as security for a hand note in the amount of $155,000. The hand note, also executed that…