AUSTIN v. PERRY

No. 7183.

325 So.2d 722 (1976)

John F. AUSTIN, Jr. v. Jack PERRY.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearing Denied February 10, 1976.

Writ Refused March 19, 1976.


Attorney(s) appearing for the Case

Faris, Ellis, Gilmore, Cutrone & Lautenschlaeger, Camille A. Cutrone, New Orleans, for plaintiff-appellant.

Frank C. Dudenhefer and Arthur L. Ballin, New Orleans, for defendant-appellee.

Before REDMANN, STOULIG and BEER, JJ.


BEER, Judge.

On September 21, 1967, defendant-appellee, Jack Perry borrowed $150,000 from the Bank of New Orleans and Trust Company, (hereafter, BNO) and executed a promissory note, payable on demand, in that amount. Commensurate therewith, John F. Austin, Jr., plaintiff-appellant, executed a separate continuing guarantee agreement in favor of BNO.

Perry defaulted on the note and Austin was called by BNO under the continuing guarantee agreement. In response...

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