Freeman ex rel. Barnes v. Profilet
Supreme Court of Louisiana
Appeal from tbe Parish Court of New Orleans, Maurian, J. The bolder of a bill, after the liability of the parties is fixed by protest and notice, is not bound to active diligence, and he may forbear to sue as long as he pleases.
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Appeal from tbe Parish Court of New Orleans, Maurian, J. The bolder of a bill, after the liability of the parties is fixed by protest and notice, is not bound to active diligence, and he may forbear to sue as long as he pleases. Chitty on Bills, 441. 16 La. 218. An agreement to give time to the acceptor or drawer, to have the effect of discharging the endorser, must be such an agreement as precludes the holder from suing and suspends his remedy against the drawer or acceptor, to the prejudice of endorser; and must be an agreement binding in law, and founded upon a sufficient consideration.…
1Opinion of the CourtSimon, J.
The plaintiff is appellant from a judgment discharging the defendant, who was sued as endorser of a draft drawn by P. 1VÍ. Lapice on Peyroux, Arcueil & Co. to the order of the said defendant, and on account of which the drawer had paid $2,000 after the protest thereof, from his liability to pay the balance claimed against him.
The ground upon whiph the appellee was discharged, is, according to his answer, that the appellant had voluntarily aban*34doned his claim against the endorser by granting time and indulging the drawer, for a valuable consideration, without the knowledge and consent of the…
2Cases cited4 opinions
- McGuire v. WooldridgeSupreme Court of Louisiana · 1843
- Gustine v. Union BankSupreme Court of Louisiana · 1845
- Boutte v. MartinSupreme Court of Louisiana · 1840
- Keith v. MackeySupreme Court of Louisiana · 1843
3Cited by1 opinion
- Barnes v. ProfiletSupreme Court of Louisiana · 1850