American Bank & Trust Co. of Coushatta v. McDowell

NORRIS, Judge.

The plaintiff, American Bank & Trust Co. of Coushatta (“American”) sued several defendants on a promissory note. After two hearings, judgment was rendered in favor of American. One defendant, William Ingram, who signed a continuing guaranty agreement, appeals. For the rea*1213sons expressed, we reverse in part and render.

Facts

American’s suit was based on a series of promissory notes and chattel mortgages executed by defendant John McDowell and his companies, Enhance Oil & Gas and Dow-Mac Offshore. The latest note, for $276,689, was dated April 20,1984. American had loaned them money…