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
On Application por a Rehearing.
This application presents two questions for our consideration — one of fact and the other of law — which, being resolved in favor of the plaintiff, necessitates a change in our decree, and that judgment be pronounced in his favor.
The two propositions are (1) one of fact, whether or not the defendant, Stauffer, was advised of the existence of equities between the plaintiff, Pavey, and Lallande, payee of the two notes in controversy, antecedent to the actual endorsement thereof — said endorsements having been thereon placed before maturity; and (2) one of law,…
2Cases cited6 opinions
- Trust Co. v. National BankSupreme Court of the United States · 1880
- Goshen National Bank v. BinghamNew York Court of Appeals · 1890
- Gibbs v. LinaburyMichigan Supreme Court · 1871
- Flint v. PeopleMichigan Supreme Court · 1877
- Dennis's CaseMassachusetts Supreme Judicial Court · 1872
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