Lindsley v. Copping

LOTTINGER, Judge.

This is a suit to cancel a mortgage. Plaintiff contends that on May 1, 1959, he executed a note and mortgage in the amount of Seven Thousand and No/100 ($7,000.00) Dollars, payable to the order of Bearer on demand. This suit is based on the ground that since the date of the note until the suit was filed, July 12, 1966, no payments have been made, and therefore, under the provisions of LSA-C.C. Art. 3540, the note and mortgage have prescribed.

The record points out that not only did the plaintiff sign the $7,000.00 note on *544May 1, 1959, but apparently he also signed one on the…