Hart v. Caffery
Supreme Court of Louisiana
APPEAL from the Twenty-fifth District Court, Parish of Lafayette. DeBaillion, J. 1. An act by which property is transferred to another, with the right in the latter to sell the same in satisfaction of a debt due by the transferrer, and the surplus, If any, after payment of said indebtedness to be returned to the debtor is not a sale or a giving in payment. 32 Ann. 949; 36 Ann. 439 ; 35 Ann. 108. 2. The intervenor has elected his plea of mortgagee and is bound by it. 23 Ann.…
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APPEAL from the Twenty-fifth District Court, Parish of Lafayette. DeBaillion, J. 1. An act by which property is transferred to another, with the right in the latter to sell the same in satisfaction of a debt due by the transferrer, and the surplus, If any, after payment of said indebtedness to be returned to the debtor is not a sale or a giving in payment. 32 Ann. 949; 36 Ann. 439 ; 35 Ann. 108. 2. The intervenor has elected his plea of mortgagee and is bound by it. 23 Ann. 699; 35 Ann. 108. 3. When a title or a real right upon real estate is claimed to be valid under the laws of another…
1Opinion of the Court
The opinion of the court was delivered by
Bermudez, C. J.
This is a suit via ordinaria, to enforce the payment of a mortgage note, executed on December 3, 1872, and secured hy mortgage by a notarial act, which was recorded on December 11 following in the Recorder’s office of Lafayette Parish, in which the property is situated.
Prom time to time the mortgagor, Perry .Moses, made payments on said note.
On March 3, 1880, plaintiff, as the holder of the note and the drawer *896thereof, liquidated the indebtedness. Five notes, for different amounts, aggregating the amount due, were furnished by Perry…
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