Murphy v. Factors' & Traders' Insurance
Supreme Court of Louisiana
APPEAL from the Fifth District Court for the parish of Orleans. Oullom, J. On the Application for Rehearing. A note drawn to the order of the maker, and by him indorsed in blank, secured by act of mortgage, with the clause, “and to enure to the use and benefit of any and all future holder or holders” is transferred by delivery from hand to hand, and a transaction made in good faith with suoh holders concerning suoh note is binding and valid, possession protecting the sale,…
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APPEAL from the Fifth District Court for the parish of Orleans. Oullom, J. On the Application for Rehearing. A note drawn to the order of the maker, and by him indorsed in blank, secured by act of mortgage, with the clause, “and to enure to the use and benefit of any and all future holder or holders” is transferred by delivery from hand to hand, and a transaction made in good faith with suoh holders concerning suoh note is binding and valid, possession protecting the sale, pledge or other disposition thereof. The possession of suoh paper carries the title with it to the holder. The possession…
1Opinion
On the Merits.
The opinion of the Court was delivered by
Levy, J.
The plaintiff, Mrs. Mary Murphy, alleges in her petition, that she is the legal holder and owner, before maturity, of two promissory *456notes, each for $10,000, signed by Paul Cook and Justin Yairin, Jr., in solido, dated March 18th, 1870, payable one year after date to the order of said maker and by them endorsed, which notes bear eight per cent, per annum interest from maturity; two other notes of same date and maturity, each for the amount of $10,000, held by the Factors’ and Traders’ Insurance Company, together with those above…
2Cases cited2 opinions
- Snyder v. AndrewsNew York Supreme Court · 1849
- Shoemaker v. NesbitSupreme Court of Pennsylvania · 1828