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LEEDS v. WHITNEY NATIONAL BANK OF NEW ORLEANS

No. 22820.

374 F.2d 500 (1967)

William Latham LEEDS, Independent Executor of the Estate of John R. Neece, Deceased, Appellant, v. WHITNEY NATIONAL BANK OF NEW ORLEANS, Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied April 4, 1967.

Attorney(s) appearing for the Case

Otis B. Gary, Johnson, Bromberg, Leeds & Riggs, and Donald J. Lucas, Dallas, Tex., for appellant.

John A. Pace, Edward Kliewer, Jr., Dallas, Tex., for appellee.

Before JONES and COLEMAN, Circuit Judges, and JOHNSON, District Judge.

JONES, Circuit Judge:

On September 12, 1961, John R. Neece executed and delivered to the Whitney National Bank of New Orleans a continuing guaranty in the amount of $29,680.36 of any indebtedness of General Flooring Company to the Bank. The Bank took other like guaranties and these, with the Neece guaranty, were of an aggregate amount of $1,000,000. The guaranties were rather lengthy documents which, in part, provided:

"[T]he payment [is guaranteed] up to...

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