St. James Bank & Trust Co. v. S & H Enterprises, Inc.

BOWES, Judge.

This appeal arises from a judgment in favor of St. James Bank and Trust Company (hereinafter the Bank) and against the Louisiana Minority Business Development Authority (hereinafter LAMBDA) in which the trial court ruled that the Bank had preference for the unpaid balance of a loan. LAMBDA appeals. We affirm.

The facts of this case are not in dispute. 5 & H Enterprises, Inc. executed a series of promissory notes with a continuing line of credit of $100,000 to the Bank. J. Bruce Pasley and James M. Stephenson signed as personal guarantors on the notes. On April 12, 1985, the Bank…