Federal Mortgage & Finance Co. v. Lux

This is a suit on five rent notes of $35 each, aggregating $175. The suit is defended upon the ground that the plaintiff is not a holder in due course; and the consideration for which the notes were given having failed, and the notes having been purchased with knowledge of this deficiency, no recovery can be had.

There was judgment below in defendant’s favor and plaintiff has appealed.

T. S. Lux, the defendant herein, leased from the Tulane Investment Company, Inc , the upper apartment of the building known by the municipal No. 4919 Magnolia street in the city of New Orleans, for one year…