Whitney National Bank of New Orleans v. Ben Development Co.

BEER, Judge.

Plaintiff-appellee, Whitney National Bank of New Orleans (hereafter “Whitney”), was the holder of a promissory note in the principal amount of $405,000 (secured by a collateral mortgage), executed by BEN Development Corporation (hereafter “BEN”). The note had been signed on behalf of BEN by Richard J. Burke, president, and Thomas P. Eustis, vice-president. Thomas Eustis, Geoffrey Eustis and Richard Burke individually signed the reverse side of the note, evidencing their agreement to be bound “in solido, unconditionally and as original promisors” for payment of the principal,…