LeBeau v. Glaze
Supreme Court of Louisiana
Appeal from the District Court, Parish of St. Landry, Oushman, J., presiding. The general principle, that when the principal obligation is prescribed, the acccessory falls with it, is one which will not be controverted when the property mortgaged remains in the possession of the original obligor.
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Appeal from the District Court, Parish of St. Landry, Oushman, J., presiding. The general principle, that when the principal obligation is prescribed, the acccessory falls with it, is one which will not be controverted when the property mortgaged remains in the possession of the original obligor. But it is respectfully submitted, that when the property goes into the hands of a third person, having notice of the incumbrance, and against whom the hypothecary action is brought within the time for prescription, the mortgage becomes, as it were, isolated from the principal obligation, and is more…
1Opinion of the CourtRost, J.
The plaintiff has appealed from a judgment rendered against him in an action of mortgage, instituted against a third possessor, upon a note prescribed upon its face.
The first ground of error assigned, is that the principle that the accessory falls with the principal obligation only applies so long as the property mortgaged remains in the possession of the original debtor, and that when it passes into the hands of a third person having notice of the encumbrance, and against whom the hypothecary action is brought, as it was in this case, before prescription accrued upon the principal…
2Cases cited1 opinion
- Shields v. BrundigeSupreme Court of Louisiana · 1832
3Cited by4 opinions
- Lunt v. Boston Marine Ins.U.S. Circuit Court for the District of Southern New York · 1881
- Zimmer v. CaumontLouisiana Court of Appeal · 1939
- Zimmer v. CharbonnetSupreme Court of Louisiana · 1936
- Zimmer v. CharbonnetSupreme Court of Louisiana · 1936