Rivercity v. American Can Company

PER CURIAM: *

At oral argument, counsel for appellant Rivercity stated (correctly, we believe) that its case depended upon' whether the letter dated September 8, 1971, from Whitney National Bank of New Orleans to Rivercity created a guaranty by Whitney of the obligations of Jackson Brewing Company under Jackson’s option agreement with Riv-ercity. We reject that construction of the September letter; that letter states only that the rights of Rivercity under the option agreement will prime the rights of Whitney under the Act of Collateral Mortgage and related note and the Act of Subordination…