Case ID: la-ann_19/html/0526-01.html
Source: Caselaw Access Project
Author: {"author": "Labauve, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

No. 1063.
    William Hunt v. J. M. Stone et al.
    Payment of a promissory note to the holder, endorsed in blank, -will dischargé the drawer and endorser.
    Where the drawer and endorser of a promissory note seek to avoid payment on the ground that the , • holder is not the owner thereof, and that they have equities against the veal owner, the burden oí proof is on them to show the equities that exist. |J
    The holder of a promissory note, though he is only the agent of the owner, may sue and recover judgment in his own name.
    A PPEAL from the Fifth District Court of New Orleans, Leaumoni, J;
    
      Whitaker, Fellows & Mills, for plaintiff and appellee.
    
      Geo. S. Lacey and Alexander Marks, for defendants and appellants.
   Labauve, J.

Tlie plaintiff claims of the defendants in solido, the sum of $3,000, with interest, upon a note signed by Stone and endorsed1 by Chase, both defendants. ■

The defendants answered by a general denial; admitted their signatures as maker and endorser. They further averred that the plaintiff' was not the owner of the note, but that it belonged to one Boss; that said plaintiff acquired the . same under such circumstances as to subject the said note to certain equities, which could have been urged against said Boss; they specify those equities, going to show a failure of consideration. '

The Court, after hearing the evidence, gave judgment for plaintiff, and the defendants appealed.

Alexander Boss, from' whom plaintiff acquired the note, clearly shows a consideration, and defendants have not attempted to prove the equities by them pleaded. The plaintiff was ■ interrogated, and he shows that he acquired the note in good faith, and that he is the holder thereof, subject to a.certain stipulation between him and Boss: that when the note was collected, the plaintiff should pay over to Boss whatever sum should be realized after paying all expenses of collection, and the sum of $1,800 and interest, diie by said Boss to plaintiff. This is a matter with which the defendants have nothing to do; the note is payable to order, and endorsed in blank by the payee; the plaintiff, being the holder, is entitled to receive payment thereof. C. C., Art. 2141, No. 1. Even if the plaintiff were only agent of Boss, it is well settled that he might sue in his own name. 2 L. 264.

." Judgment affirmed, with costs.