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FARMERS-MERCHANTS BANK AND TRUST CO. v. CIT GROUP/EQUIP. FIN., INC.

No. 89-4409 Summary Calendar.

888 F.2d 1524 (1989)

FARMERS-MERCHANTS BANK AND TRUST COMPANY, Plaintiff-Appellant, v. The CIT GROUP/EQUIPMENT FINANCING, INC., Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

December 1, 1989.

Attorney(s) appearing for the Case

Stanford B. Gauthier, II, Stephen J. Slater, Breaux Bridge, La., for plaintiff-appellant.

Linton W. Carney, Jr., Monroe & Lemann, New Orleans, La., for defendant-appellee.

Before REAVLEY, KING and JOHNSON, Circuit Judges.

PER CURIAM:

The district court held that La.Rev.Stat.Ann § 9:5362 does not apply to a dation en paiement and granted defendant's motion to dismiss. Plaintiff appeals and we reverse.

I.

The essential facts are not disputed in this case. Farmers-Merchants Bank & Trust Company (Farmers) of St. Martin Parish was the last holder of a collateral chattel mortgage note dated December 3, 1984, and...

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