United States v. Estelle Harvey

In this case we affirm a district court decision that a private sale, without appraisement, of secured property by debtors and payment of the proceeds to the Small Business Administration did not preclude under Louisiana’s Deficiency Judgment Act that agency’s suit for deficiency judgment.

On November 7, 1973, defendants executed and delivered a $50,000.00 promissory note in favor of Community State Bank, Independence, Louisiana. On the same date they delivered to the bank a mortgage signed by them and dated November 6, 1973, covering real and chattel property in Tangipahoa and St. Helena…