Begue v. St. Marc
Supreme Court of Louisiana
APPEAL from the Oivil District Court for the Parish of Orleans. Bightor, J. Prescription does not run as long as the creditor, with the consent of the debtor, holds the latter’s valuables as collateral security, in pledge or otherwise. And the same is true of anteehresis, and generally of all agreements by which a debtor confers possession of his property to his creditor with the stipulation that the rents and revenues are to be applied to the extinguishment of the debt.
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APPEAL from the Oivil District Court for the Parish of Orleans. Bightor, J. Prescription does not run as long as the creditor, with the consent of the debtor, holds the latter’s valuables as collateral security, in pledge or otherwise. And the same is true of anteehresis, and generally of all agreements by which a debtor confers possession of his property to his creditor with the stipulation that the rents and revenues are to be applied to the extinguishment of the debt. The transfer of a policy of insurance and its delivery- to a creditor as collateral security is a continuous acknowledgment…
1Opinion of the Court
The opinion of the court was delivered by
Breaux, J.
The defendant, the maker of a promissory note, secured by mortgage, alleges that it is prescribed. More than five years had elapsed from its maturity on the day that service of citation and petition was made.
But at the same time that the defendant gave the mortgage, she assigned a policy of insurance to the mortagee, in writing, with the authority of her husband, in compliance with the usual clause of the mortgage act covering such assignment.
This was on the 6th day of August, 1884.
Payment of small amounts of interest was made from time to…
2Cases cited1 opinion
- Montgomery v. LevistonesSupreme Court of Louisiana · 1844
3Cited by9 opinions
- Weil v. Jacobs' EstateSupreme Court of Louisiana · 1903
- Sullivan v. St. Anna's Chapel of the State of LouisianaSupreme Court of Louisiana · 1929
- Wagner v. Mutual Life InsuranceSupreme Court of Connecticut · 1914
- Bank of Slidell v. GauseSupreme Court of Louisiana · 1924
- Bear v. DendingerSupreme Court of Louisiana · 1917
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