UNITED FASTENERS v. FIRST ST. BANK OF CROSSETT

No. 85-8.

691 S.W.2d 126 (1985)

286 Ark. 202

UNITED FASTENERS, INC. et al., Appellants, v. FIRST STATE BANK OF CROSSETT, Appellee.

Supreme Court of Arkansas.

Rehearing Denied July 15, 1985.


Attorney(s) appearing for the Case

Johnson & Harrod, Hamburg, for appellants.

Griffin, Rainwater & Draper, Crossett, for appellee.


HICKMAN, Justice.

The First State Bank of Crossett had been doing business with United Fasteners, Inc., for some time, and on June 15, 1979, a $56,500 promissory note was issued to consolidate prior loans. The note was secured by second mortgages on the residences of the principal parties to the corporation and their wives: Robert and Joyce Carter, Buddy and Lennie Stephens, and Michael and Wanda Jenkins. It was a corporate note executed on the front by all the principals...

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