District Court, E.D. Louisiana July 16, 1992, Civ. A. 91-3076 (Pontchartrain State Bank v. Lybrand)

OPINION AND REASONS

McNAMARA, District Judge.

This matter was submitted for trial on the documents. It presents a single question of law: Is the maker of a collateral mortgage and collateral mortgage note personally liable when the collateral mortgage note is pledged as security on behalf of a third party?

Background

The collateral mortgage is a security device peculiar to Louisiana.