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VAHNOLA FEDERAL CREDIT UNION v. JACOBS

No. 3836.

232 So.2d 876 (1970)

VAHNOLA FEDERAL CREDIT UNION v. Willie JACOBS and Jesse B. Kingston.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearing Denied April 6, 1970.

Attorney(s) appearing for the Case

Reed, Reed & Reed, William M. Detweiler, Trial Atty., New Orleans, for Vahnola Federal Credit Union, plaintiff-appellee.

Simon & Simon, Warren M. Simon, Jr., New Orleans, for Jesse B. Kingston, defendant-appellant.

Montgomery, Barnett, Brown & Read, Richard B. Montgomery and Wood Brown, III, New Orleans, for Occidental Life Insurance Company of California, third-party defendant and mover in rule, appellee.

Before CHASEZ, REDMANN, and LeSUEUR, JJ.

CHASEZ, Judge.

On January 19, 1965, the defendant, Willie Jacobs, while employed by the Veterans Administration and as a member of VAHNOLA FEDERAL CREDIT UNION ("VAHNOLA"), plaintiff herein, borrowed money from VAHNOLA and executed a renewal promissory note in the amount of $1,151.57, payable to the order of VAHNOLA, with interest at the rate of 1% per month. The note was payable in 36 installments of $38.28 each month, commencing March 9, 1965. In addition, the promissory...

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