Traylor v. Lafayette National Bank

Plaintiff-appellee brought this action against defendants-appellants to recover on a promissory note in the principal amount of $500,000, together with foreclosure of a security interest in and to common stock of Telesis Corporation.

The note sued on was dated March 20, 1969, and was payable “on demand or, if no demand is made, then eleven (11) months after date” to the order of the plaintiff-appellee.

Subsequent to the execution and delivery of said note and after the appellee bank had made demand for immediate payment the parties hereto entered into an “agreement” whereby the bank agreed to…