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AZALEA CITY MOTELS, INC. v. FIRST ALABAMA BANK

87-675.

551 So.2d 967 (1989)

AZALEA CITY MOTELS, INC., et al. v. FIRST ALABAMA BANK OF MOBILE and Federal Reserve Bank of Atlanta, Georgia.

Supreme Court of Alabama.

As Modified on Denial of Rehearing September 22, 1989.

Attorney(s) appearing for the Case

Peter F. Burns, Mobile, for appellants.

Richard T. Dorman and Michael C. White of Johnstone, Adams, Bailey, Gordon & Harris, Mobile, for appellees.

SHORES, Justice.

Defendants, Azalea City Motels, Inc., W.C. Greene, and Paul M. Jackson, appeal a judgment in a nonjury trial in favor of the plaintiff, First Alabama Bank (hereinafter "FAB").

I. The Facts:

Azalea City Motels, Inc. (hereinafter "Azalea City"), is a corporation primarily engaged in the business of buying, managing, and selling hotel and motel properties. The corporation was, during the majority of the period relevant to this...

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