Folmar v. Lehman-Durr Co.
Supreme Court of Alabama
Appeal from Montgomery City Court. Heard before Hon. A. D. Sayre. Bill by the Lehman-Durr Company against George A. Folmar and others.
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Appeal from Montgomery City Court. Heard before Hon. A. D. Sayre. Bill by the Lehman-Durr Company against George A. Folmar and others. From an adversei decree, defendants appeal. ^ • The bill alleges an indebtedness of George A. Folmar. to the Lehman-Durr Company of $4,104.71, with interest thereon from April 4, 1896, and that the debt accrued prior to June 12, 1896. It alleges a sale and transfer of certain lands therein described to the other defendants for love and affection, and a recited consideration of $1 and $2. It also alleges that the grantees in the deed from George A. Folmar and…
1Opinion of the CourtAnderson, J.
The transfer of the debt passes to the transferee the right of the transferror in such security or property pledged. — Code 1896, § 947; Randolph on Commercial Paper, §§ 731, 1675; Duval v. McLoskey, 1 Ala. 734; Hatch v. White, Fed. Cas. No. 6,209.
Not only did the laAv give the respondent Felix Fol-mar the $7,500 note held as collateral upon the assignment to him of the notes held by the complainant Beall & Coston, but the undisputed evidence is that it Avas expressly agreed that, AAdien the .notes which this bill seeks to enforce were executed, it was expressly understood that the…
2Cases cited5 opinions
- Doe ex dem Duval's heirs v. McLoskeySupreme Court of Alabama · 1840
- Seals v. Robinson & Co.Supreme Court of Alabama · 1883
- Caldwell v. KingSupreme Court of Alabama · 1884
- Clark v. HartSupreme Court of Alabama · 1876
- Kilgore v. RedmillSupreme Court of Alabama · 1898
3Cited by15 opinions
- London v. G. L. Anderson Brass WorksSupreme Court of Alabama · 1916
- Nelson Realty Co. v. Darling Shop of Birmingham, Inc.Supreme Court of Alabama · 1957
- Corley v. VizardSupreme Court of Alabama · 1919
- Springdale Gayfer's Store Co. v. DH Holmes Co., Ltd.Supreme Court of Alabama · 1967
- Allen v. OvertonSupreme Court of Alabama · 1922
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