Pavey v. Stauffer
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. Monroe, J. When a promissory note has been delivered in pledge to a third innocent party for value, and before maturity, and without notice, the pledgee is entitled to retain the pledge notes until payment and to proceed by suit and foreclosure of the mortgage securing them to enforce payment.
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APPEAL from the Civil District Court for the Parish of Orleans. Monroe, J. When a promissory note has been delivered in pledge to a third innocent party for value, and before maturity, and without notice, the pledgee is entitled to retain the pledge notes until payment and to proceed by suit and foreclosure of the mortgage securing them to enforce payment. Where notes are made payable to the pledgor, and they are delivered to the pledgee without the pledgor’s endorsement, no claims of equities as between the maker and the payee-pledgor will avail as against the pledgee, if, at the time the…
1Opinion of the Court
The opinion of the court was delivered by
Watkins, J.
The object of this action is the recovery of possession of two promissory notes, in capital aggregating about $6000, which were executed by the petitioner to the order of J. B. Lallande, payable at a future date, and presently in the possession of the defendant.
Petitioner’s averment is that J. B. Lallande was, at the time of their execution, his factor and commission merchant, and they were furnished to him as collateral security for his current and running account.
That they were discounted and the proceeds thereof placed to his *355credit. That…
2Cases cited2 opinions
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3Cited by9 opinions
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- Azar v. SlackNew Mexico Supreme Court · 1924
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