Bank South v. Jones

Deen, Presiding Judge.

Donna Jones, the former wife of appellee Thomas Jones, obtained financing from Bank South in the amount of $48,000 to open a business known as Interiors Etcetera. Thomas and Donna Jones endorsed a promissory note in favor of the bank, and Donna Jones also signed the note on behalf of “Interiors Etcetera, a Proprietorship.” Thomas Jones, however, appears to have had no financial interest in the business. A security agreement was drafted and signed by Donna Jones whereby the bank took a security interest in the accounts receivable, contract rights of the debtor, and all…