Spearing & Co. v. Succession of Zacharie

This suit is based on the following instrument:

“New Orleans, June 3, 1862.

“Due Messrs. Spearing & Co. six thousand dollars in current funds, subject to their draft or drafts at not less than sixty days after sight.

“J. W. ZACHARIE,

$6000. “ pp. Robert Jump.”

The court sustained the plea of prescription of five years and dismissed the suit. The plaintiffs appeal. The question is, is the above instrument a promissory note 9 If so, the action is barred by prescription. It is an acknowledgment of an indebtedness of a specific sum, subject to (or payable), on payee’s draft or drafts, at not less than…