First National Bank v. Smith

LABORDE, Judge.

This proceeding was instituted by the First National Bank of Lafayette (FNB) to enforce a continuing guaranty agreement. Judgment was rendered by the trial court against the defendant, James R. Smith, in the amount of $20,000.00 plus 16% interest and 25% attorney fees. The defendant appeals the judgment which we affirm.

On January 27, 1982, Smith executed a continuing guaranty, in the amount of $15,-000.00, on behalf of Petroleum Catering, Ltd. On March 23, 1982, Smith executed a second guaranty, nearly identical to the first, in the amount of $20,000.00. Both run in favor of…