Lake Providence Equipment Co. v. Tallulah Production Credit Ass'n

SUMMERS, Justice.

A question of acknowledgment of a debt under Article 3520 of the Civil Code is presented for decision here. The case arises out of a foreclosure proceeding and affects the division of the proceeds of a Sheriff’s sale.

On December 17, 1960 Ernest Bramlett executed a promissory note in the principál amount of $3,550 to the' order of fnaker; endorsed in blank, due on or before No vember 15, 1961, with 8 percent per annum interest. The note was paraphed “Ne Varietur” for identification with a vendor’s lien and mortgage of even date affecting real property owned by Bramlett.

Seven…