Union Bank v. Jones
Supreme Court of Louisiana
from the District Court of St. J. The directors of the branch were themselves without authority to grant a discharge. They were agents, having only a power of administration, and could not remit a debt, for remission is an act of ownership.
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from the District Court of St. J. The directors of the branch were themselves without authority to grant a discharge. They were agents, having only a power of administration, and could not remit a debt, for remission is an act of ownership. Union Bank of Louisiana v. Bagley, 10 Rob. 43. Pothier, Oblig. 619. Mandat, 164. C. C. art. 630. The charter, s. 34 (Acts 1832, p. 68,) provides “that there shall annually be appointed by the board of directors of the Union Bank, to administer (pour administrer) the affairs of said offices of discount and deposit, five or seven directors.” The expression…
1Opinion of the Court
The judgment of the court* (King, J. absent,) was pronounced by
Suidex,!., J.
The defendant, who is sued as the endorser of a note discounted and held by the branch of the Union Bank at Covington, contends that he has been released from all liability, by reason of the voluntary discharge of the maker. Terrell, the maker of the note, had made a cessio bonorum. At the meeting of his creditors the cashier of the bank appeared, and voted a discharge of the insolvent. It does not appeal' that any authority to do so had been given by the mother board, nor does any resolution appear on the minutes of…
2Cases cited1 opinion
- Union Bank v. BagleySupreme Court of Louisiana · 1845
3Cited by1 opinion
- Whited & Wheless, Ltd. v. CalhounSupreme Court of Louisiana · 1908