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FIRST BANK OF NATCHITOCHES & TRUST CO. v. CHENAULT

No. 89-900.

576 So.2d 1123 (1991)

FIRST BANK OF NATCHITOCHES & TRUST COMPANY, Plaintiff-Appellant, v. A.B. CHENAULT, et al., Defendants-Appellees.

Court of Appeal of Louisiana, Third Circuit.

March 13, 1991.

Attorney(s) appearing for the Case

McCoy & Hawthorne, Kenneth D. McCoy, Jr., Natchitoches, for plaintiff/appellant.

Kyzar & Celles, George L. Celles IV, Gahagan & Gahagan, Fred S. Gahagan, Natchitoches, for defendants/appellees.

Before DOMENGEAUX, C.J., and GUIDRY and DOUCET, JJ.

GUIDRY, Judge.

Appellant, First Bank of Natchitoches & Trust Company (hereafter FBN), appeals the dismissal of its petition for a deficiency judgment against A.B. Chenault and his wife, Effie Basco Chenault. The facts which give rise to this litigation are outlined below.

On March 1, 1985, A.B. and Effie B. Chenault executed a collateral mortgage note of $12,000.00, a collateral mortgage and a collateral pledge agreement in favor of FBN in order to secure...

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