First National Bank of Commerce v. Breaux

PLOTKIN, Judge.

Plaintiff, First National Bank of Commerce (FNBC), appeals two district court opinions allowing defendants, Ernest J. Danjean d/b/a Dan’s Food Store (Dan’s), and Jean E. Breaux d/b/a Capital Savings Supermarket (Capital), to set-off their members’ buying deposits in Louisiana Grocers’ Co-operative, Inc. (LGC) against the open account indebtedness each owed to LGC.

LGC, a co-operative of local grocery stores organized as a Louisiana corporation, purchased items in volume for resale to members. LGC was financed by its members, who bought stock in the corporation and made member…