Levy v. Ford
Supreme Court of Louisiana
APPEAL from the First Distript Court, Parish of Caddo. Taylor, J. 1. The Bourquin rent notes having been extinguished by a double novation, the mortgage .securing same was not transferred to the substituted credits, in the absence of an express reservation.
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APPEAL from the First Distript Court, Parish of Caddo. Taylor, J. 1. The Bourquin rent notes having been extinguished by a double novation, the mortgage .securing same was not transferred to the substituted credits, in the absence of an express reservation. G. O. 2189, 2195. 2. The mortgage note, was surrendered to the maker for the purpose of securing the, Bourquin rent notes — and could not be pledged for other debts without the consent of the former holder. 3. tfaid mortgage note was extinguished by payment and confusion, and could not be reissued by the maker before or after maturity so…
1Opinion of the Court
Tlie opinion of tlie Court was delivered by
Watkins, J.
The plaintiff, as holder of a junior mortgage on tlie property of the defendant S. X. Ford, has brought this action for the cancellation of tlie inscription of a senior and interfering mortgage, held by tlie defendant William Winter, on tlie ground that the mortgage indebtedness had been paid and satisfied, and tlie note returned to the maker; andón tlie further ground that, if said Ford had reissued said note, it was reissued, after maturity, to Winter, without a valuable consideration, and that lie was not a bona fide holder thereof.
*875J.…
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