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FIRST PROGRESSIVE BANK v. VERRET

No. 9410.

368 So.2d 1202 (1979)

FIRST PROGRESSIVE BANK v. David L. VERRET et al.

Court of Appeal of Louisiana, Fourth Circuit.

March 7, 1979.

Attorney(s) appearing for the Case

Fred Clegg Strong; Legier, McEnerny, Waguespack, Kuhner, Scoggin & Strong, New Orleans, counsel for First Progressive Bank, plaintiff-appellee.

Charles E. Cabibi, New Orleans, counsel for Charles A. Mannina, defendant-appellant.

Rodney J. Madere, New Orleans, counsel for Donald J. Burke, plaintiff-appellant.

David L. Verret, Jr., defendant-appellant, in pro per.

Before SAMUEL, STOULIG and BOUTALL, JJ.

BOUTALL, Judge.

This is a suit for collection of monies owed under a continuing guaranty agreement after default of the principal debtor.

The facts are as follows: First Funds, Inc. borrowed approximately $800,000 through a revolving loan and security agreement from Firstmark Rediscount Corporation in May of 1974. In September of 1974, First Progressive Bank, appellee herein, lent money to First Funds through a participation agreement with Firstmark Rediscount...

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