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FIRST GUAR. BANK v. PELICAN STATE MUT.

No. 90 CA 1724.

590 So.2d 1306 (1991)

FIRST GUARANTY BANK v. PELICAN STATE MUTUAL INSURANCE COMPANY, et al.

Court of Appeal of Louisiana, First Circuit.

Writ Denied February 7, 1992.

Attorney(s) appearing for the Case

Joseph H. Simpson, Richard Schwartz, Amite, for plaintiff—intervenor, Billy F. Hawkins, appellee.

David Walle, New Orleans, for defendant—1st appellant, Pelican State Mut. Ins. Co., English and American, Bryanston Ins. Co. Ltd., Bishopsgate Ins. Co. Ltd., Sphere Drake Ins., Aegon Ins. Co. and Orion Ins. Co.—appellants.

M.H. Gertler, New Orleans, for Glen Reid, 2nd appellant.

Before SHORTESS, LANIER, and CRAIN, JJ.

CRAIN, Judge.

Billy F. Hawkins and his wife, Robbie Sue Mason Hawkins, purchased by credit deed a commercial building and the immovable property on which it was located. The purchase price was $315,250. Hawkins paid $50,000 in cash and signed two promissory notes payable to sellers in the sums of $209,000 and $56,250 respectively. The property was purchased from Mr. and Mrs. Glen Reid and Mr. and Mrs. Glen Gabriel Reid. The Reids had several years earlier executed...

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