Matthews v. Rutherford
Supreme Court of Louisiana
APPEAL from the Fourth District Court of New Orleans, Strawbridge, J. cited Chitty on Bills, 334. Nisbet v. Galbraith, 3 Ann. 692. Where negotiable notes are delivered as security for a debt, and no authentic act is made to evidence the pledge, they will not confer a preference in case of insolvency. 2 L. R. 361 and 386. “ It is not every endorsement and deposit of anote as collateral security that transfers such absolute property, as will deprive the payee or depositor of…
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APPEAL from the Fourth District Court of New Orleans, Strawbridge, J. cited Chitty on Bills, 334. Nisbet v. Galbraith, 3 Ann. 692. Where negotiable notes are delivered as security for a debt, and no authentic act is made to evidence the pledge, they will not confer a preference in case of insolvency. 2 L. R. 361 and 386. “ It is not every endorsement and deposit of anote as collateral security that transfers such absolute property, as will deprive the payee or depositor of all right, and the maker of every defence he may have against it previous to the notice of deposit or pledge.” Lapice v.…
1Opinion of the Court
By the court:
Slidell, J.
This suit is brought upon a note dated in April, 1851, at eight months, for $1980, made by the defendant, to the order of S. B. Conrey, and by him endorsed in blank. The answer contains a general denial, and also pleads that the plaintiffs are not the owners of the note, but merely hold it as collateral security .for debts due them by the payee; that Conrey gave the defendant no value for it; that ho legal transfer was ever made to plaintiffs ; that they gave no value for it, &c.
There was judgment for the defendant, and the plaintiffs have appealed.
From the testimony…
2Cases cited2 opinions
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3Cited by13 opinions
- Casey v. CavarocSupreme Court of the United States · 1878
- Hortman-Salmen Co. v. WhiteSupreme Court of Louisiana · 1929
- Steeg v. CodiferSupreme Court of Louisiana · 1924
- Vivian State Bank v. Thomason-Lewis Lumber Co.Supreme Court of Louisiana · 1926
- Haydon v. NicolettiNevada Supreme Court · 1884
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