Woodward v. American Exposition Railway Co.
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. Bightor, J. A railroad constructed on the soil of another is movable personal, property; and a pledge thereof is governed by the law regulating the pledging of movables. 3 B. p. 166; C. Qa arts. 3140. 3152. The vendor of movables has a special privilege on the samo superior lo that of any creditor, except the lessor.
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APPEAL from the Civil District Court for the Parish of Orleans. Bightor, J. A railroad constructed on the soil of another is movable personal, property; and a pledge thereof is governed by the law regulating the pledging of movables. 3 B. p. 166; C. Qa arts. 3140. 3152. The vendor of movables has a special privilege on the samo superior lo that of any creditor, except the lessor. C„ C. art. 32X7, No. 7; arts. 3227, 3263. Subrogation takes place by operation of law, “of right,” “for the benefit of him, who being bound with others, tor the payment of the debt, had an interest in discharging…
1Opinion of the Court
The opinion of the Court was delivered by
Pochk, J.
This ease presents a contest between plaintiff and in - tervenor, both creditors of defendant company, for preference of payment out of the proceeds of portions of the railroad property.
Plaintiff is the holder of a note representing the balance of the purchase price of the rails and other iron appurtenances used in the construction of the road, which connected Canal street, in this city, with the grounds of the American Exposition.
The note, which had been executed by the defendant corporation in favor of the vendor of the materials referred…
2Cases cited1 opinion
- State v. Mexican Gulf Railway Co.Supreme Court of Louisiana · 1843
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