Union National Bank v. Evans
Supreme Court of Louisiana
APPEAL from the Sixteenth District Court for the Parish of St. Helena. Brame, J. Tlie promissory note in suit, having been given in pledge, and being actually now in pledge as collateral security, prescription can not run on tlie note. Posses- ■ sion of the pledge by the plaintiff is a constant recognition of defendant’s debt, and which prevents prescription even from beginning to run, 42 An. Rep., No. 8, p. 733. Aside from the foregoing the ease is with the plaintiff.
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APPEAL from the Sixteenth District Court for the Parish of St. Helena. Brame, J. Tlie promissory note in suit, having been given in pledge, and being actually now in pledge as collateral security, prescription can not run on tlie note. Posses- ■ sion of the pledge by the plaintiff is a constant recognition of defendant’s debt, and which prevents prescription even from beginning to run, 42 An. Rep., No. 8, p. 733. Aside from the foregoing the ease is with the plaintiff. The evidence shows interruption of prescription. Verbal acknowledgment by the debtor is interruptive of prescription if made…
1Opinion of the Court
The opinion of the court was delivered by
Breaux, J.
The plaintiff brought suitwa ordinaria May 16, 1890, against the defendant on a promissory note of which he is the maker for the amount of $3173.58 with interest from maturity, dated March 5, 1884, and made payable on the 25th day of December of that year to the order of E. M. Hogan & Co., and secured as to its payment by mortgage.
No payment was made on the note subsequent to January 5, 1885. On that day, the sum of $657.70 was paid on account.
It was at the time held by the Union National Bank, to whom it was transferred.
The defendant…
2Cited by19 opinions
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- Lake Providence Equipment Co. v. Tallulah Production Credit Ass'nSupreme Court of Louisiana · 1970
- Gallagher v. GallagherSupreme Court of Louisiana · 1965
- Henry Block Co. v. PapaniaSupreme Court of Louisiana · 1908
- McClung v. Delta Shipbuilding Co.Louisiana Court of Appeal · 1948
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