Weil v. Enterprise Ginnery & Manufacturing Co.
Supreme Court of Louisiana
APPEAL from the Civil District Court, Parish of Orleans. King, J. A creditor paying for another creditor whose claim is preferable to his by reason, of his mortgage, is entitled to a legal subrogation. C. C. 2161. ieing bound with others for the payment of the debt, he had an interest in discharging it. 1. The payment of - a promissory note by or for the maker, or by one not bound for it, extinguishes the note and the mortgage securing its payment.
Read the full summary
APPEAL from the Civil District Court, Parish of Orleans. King, J. A creditor paying for another creditor whose claim is preferable to his by reason, of his mortgage, is entitled to a legal subrogation. C. C. 2161. ieing bound with others for the payment of the debt, he had an interest in discharging it. 1. The payment of - a promissory note by or for the maker, or by one not bound for it, extinguishes the note and the mortgage securing its payment. O. C. 2134, 3411, 2161; 25 An. 438; 40 An. 351. ‘ 2. A legal subrogation exists in favor, not of all who pay a debt, but of those only who, being…
1Opinion of the Court
*493The opinion of the court was delivered by
Roché, J.
The real contest in the case is between plaintiff and the third opponent, and it hinges upon the alleged extinction of a mortgage and vendor’s privilege originally securing two promissory notes on which plaintiff had sued out executory process on defendant’s immovable property.
The third opponent contends that the mortgage securing the note which he holds is the ranking encumbrance on the property seized by plaintiff, and he prays that executory process should issue on his note and mortgage, or in the alternative for payment by preference out…
2Cases cited1 opinion
- Nicholls v. His CreditorsSupreme Court of Louisiana · 1845
3Cited by1 opinion
- Louisiana State Board of Dentistry v. OflertyLouisiana Court of Appeal · 1925