Wiggin v. Flower
Supreme Court of Louisiana
Appeal form the Commercial Court of New Orleans, Watts, J. The petitioners represent, that one Elam Bowman, drew a bill of exchange on them, in favor of A. L. Gaines, for $826 66, payable five months after date; that the bill was accepted by the petitioners, and endorsed by A. L. Gaines, to A. L. Gaines & Brother, who endorsed it to the Union Bank of Louisiana, by which the bill was discounted for account of A. L. Gaines & Brother; that the bill thus became the property of…
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Appeal form the Commercial Court of New Orleans, Watts, J. The petitioners represent, that one Elam Bowman, drew a bill of exchange on them, in favor of A. L. Gaines, for $826 66, payable five months after date; that the bill was accepted by the petitioners, and endorsed by A. L. Gaines, to A. L. Gaines & Brother, who endorsed it to the Union Bank of Louisiana, by which the bill was discounted for account of A. L. Gaines & Brother; that the bill thus became the property of the Bank, and that due notice was given to the petitioners that the bill was there, payable at maturity, to wit, on the…
1Opinion of the Court
Martin, J.*
This case presents two questions of law :
First. Whether an endorser who pays a bill of exchange before maturity, acquires a legal subrogation 1
Second,. Whether, if he has not paid the full amount of the bill, or if he has paid it in depreciated notes, he may require from the acceptor, more than he has paid, or more than the value of the depreciated notes ?
The plaintiffs are appellants from a judgment, by which thedefendants have recovered, in reconvention, the whole amount of a bill of exchange accepted by them, discounted in Bank, and, before maturity, paid by the endorser, or his…
2Cited by3 opinions
- Citizens Bank v. MillerSupreme Court of Louisiana · 1892
- Holton & Winn v. John A. Hubbard & Co.Supreme Court of Louisiana · 1897
- Vinet v. BresSupreme Court of Louisiana · 1896