Allen, Nugent & Co. v. Cary
Supreme Court of Louisiana
APPEAL from the Third District Court for the parish of Orleans. Monroe, J. First — The holder of a promissory note of a commercial firm, who has acquired same for value, in due course of business, before maturity, is entitled to recover against said firm, and the members thereof, in solido.
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APPEAL from the Third District Court for the parish of Orleans. Monroe, J. First — The holder of a promissory note of a commercial firm, who has acquired same for value, in due course of business, before maturity, is entitled to recover against said firm, and the members thereof, in solido. Second — Where no suspicions circumstances are shown, due inquiry is made, and the holder has acted in good faith and given value, he is entitled to recover. 2 Wallace, 110 ; 26 Annual, 15. Third — The holder is not required to see that each of the members of the firm signed the firm name to the note. C.…
1Opinion of the Court
The opinion of the Court was delivred by
Bermudez, C. J.
This is an action to hold John P. Bichardson, as one of the partners composing the firm of Bichardson & Cary, liable for the obligations of C. W. Cary as drawer of three notes, aggregating $7013 97, and as obligor under a contract by which he bound himself to the plaintiffs to make to them shipments of cotton, the proceeds to be applied to the payment of the notes, commissions and eventually attorney’s fees in case of breach of contract. The liability is sought to be imposed on the grounds that the notes were endorsed by Bichardson &…
2Cases cited10 opinions
- Winship v. the Bank of the United StatesSupreme Court of the United States · 1831
- N. Rogers & Sons v. BatchelorSupreme Court of the United States · 1838
- Mauldin v. Branch Bank at MobileSupreme Court of Alabama · 1841
- Wallace v. Branch BankSupreme Court of Alabama · 1840
- Laverty v. BurrNew York Supreme Court · 1828
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3Cited by6 opinions
- Rogers v. Betterton & Co.Tennessee Supreme Court · 1894
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- Kelley-Goodfellow Shoe Co. v. Long-Bell Lumber Co.Missouri Court of Appeals · 1900
- Victoria Lumber Co. v. MontgomerySupreme Court of Louisiana · 1912
- First Tennessee Production Credit Ass'n v. DavisTennessee Supreme Court · 1988
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