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FIRST ACADIANA BANK v. AACHEN CONST., INC.

No. 88-210.

544 So.2d 136 (1989)

FIRST ACADIANA BANK, Plaintiff-Appellant, v. AACHEN CONSTRUCTION, INC., Defendant-Appellee.

Court of Appeal of Louisiana, Third Circuit.

May 24, 1989.

Attorney(s) appearing for the Case

Daryl J. Hebert, Eunice, for plaintiff/appellant.

Donald Soileau, Mamou, for defendant/appellee.

Before GUIDRY, DOUCET and LABORDE, JJ.

DOUCET, Judge.

Aachen Construction, Inc. (Aachen) borrowed $335,500.00 from First Acadiana Bank (Bank) and in connection with the loan executed a promissory note. This promissory note was signed by several individuals, including defendant, Paul Tate, Jr. In order to secure the Bank loan, Aachen mortgaged its equipment and accounts receivable as collateral.

Subsequent to the date of this transaction, Aachen was unable to meet its obligations to the bank and...

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