Smith v. Atlas Steam Cordage Co.
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. Monroe) .7. 1. The holder of an obligation for money payable to bearer, is. by virtue of his possession. vested with the legal title, and may bring suit thereon iu his own name, although the beneficial interest may belong to a third person ,• and the debtor cannot inquire into the title of the plaintiff, except to set up equitable defenses to the obligation sued on — the defendant has no other light except that…
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APPEAL from the Civil District Court for the Parish of Orleans. Monroe) .7. 1. The holder of an obligation for money payable to bearer, is. by virtue of his possession. vested with the legal title, and may bring suit thereon iu his own name, although the beneficial interest may belong to a third person ,• and the debtor cannot inquire into the title of the plaintiff, except to set up equitable defenses to the obligation sued on — the defendant has no other light except that of defense. 2 X. S. 201; 2 La. 264; 4 X. S. 107; 5 La. 48; 4 La. 220; 18 La. 44; 2 Ann. 413 ; 4 Ann. 349 ; 30 Ann. 680 ;…
1Opinion of the Court
The opinion of the Court was delivered by
Bermudez, C. J.
This suit is brought to recover the amount of overdue coupons of bonds issued by the defendant- company for $7350 with a prayer for the recognition of the mortgage consented to secure their payment. -
*3Defendant objected that the coupons were not the property ot the ostensible plaintiff, but belonged to the firm of L. Waterbury & Co., of New York, against which it had a valid claim, largely in excess of the amount sued for, which they are seeking to avoid.
In answer to interrogatories propounded to him, the apparent plaintiff admitted that…
2Cited by13 opinions
- Hanton v. New Orleans & C. R., Light & Power Co.Supreme Court of Louisiana · 1909
- Reisz v. Kansas City Southern R.Supreme Court of Louisiana · 1921
- Johnson v. WilsonLouisiana Court of Appeal · 1958
- Ritsch Alluvial Land Co. v. AdemaSupreme Court of Louisiana · 1947
- Hughes Realty Company v. PfisterLouisiana Court of Appeal · 1971
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