Legal Opinion
Marshall National Bank v. Norwel Equipment Co.
District Court, W.D. Louisiana
Decided April 30, 1985No. Civ. A. No. 83-0149PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM RULING
STAGG, Chief Judge.
Plaintiff sues to recover the unpaid balance due on a promissory note executed by Gordon Williams to procure funds for the purchase of logging equipment from J.L. Clark, including a John Deere 440-B log skidder. A mortgage on all of the equipment secured the debt and it was guaranteed by Mr. Clark, as well. When Mr. Williams failed to pay the installments when due, the bank exercised its option to declare the unpaid balance of $41,320.48 due immediately. In an effort to satisfy the debt, plaintiff attempted to foreclose the mortgage on the log skidder and…
2Cases cited13 opinions
- Klaxon Co. v. Stentor Electric Manufacturing Co.Supreme Court of the United States · 1941
- Jagers v. Royal Indemnity CompanySupreme Court of Louisiana · 1973
- General Motors Acceptance Corporation v. NussSupreme Court of Louisiana · 1940
- Johns-Manville Sales Corporation v. Mitchell Enterprises, Inc.Court of Appeals for the Fifth Circuit · 1969
- McGehee v. Exchange Bank & Trust Co.Court of Appeals of Texas · 1978
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3Cited by1 opinion
- The Marshall National Bank and J.L. Clark v. Norwel Equipment CompanyCourt of Appeals for the Fifth Circuit · 1986