The Ouachita telegraph., 1871-08-19

Review Of the Case of N. M. Calderwood,
Extr'x., vs.. VIM. CalderwOOd.
This was an action instituted by plain
Tiff, suing as executrix and universal
legatee of the late DIR. Jno. Calderwood,
to have certain town lots in Monroe re-
to the estate of fCalderwood,
the said lots having been sold, trans
wood by Jno. Calderwood, prior to his
death, for good consideration, the par
ties signing a document known as
counter-letter to explain fully the OBJ
jects of the sale of the lots. The act of
sale was in due form and was passed
before the Recorder. The suit grew
out of different interpretations placed
upon the counter-letter, and the obliga-
tions arising under it the plaintlt
claiming that the transfer OF the lots
was nothing more than pledge of i'm
movables-an a,etichresis-which gave
VIM. Calderwood only right to enjoy
the fruits and revenues of the property
until debt of $247O due him by John
Calderwood was extinguished; while
the defendant maintained that the
transfer was sale in good faith, with
the right Of redemption reserved. The
Supreme Court, Justice Wyley rs the
organ, sustained the view taken by
PLAINTIFFS counsel, Chief Justice Lude-
ling being recused, he having been the
attorney Of DIR. Calderwood.
The real point in controversy in this
case was-Whether the $247O should be
paid from the revenues arising from the
rents of the property; or, whether that
amount was part of the purchase price
of the property, to be refunded when
ever the property was so19, or re-trans-
ferred to DR.. Calderwood, his heirs or
assigns. The Supreme Court, as stated,
held to the former view.
Did VIM. Calderwood own the prop
crty in dispute? He certainly did, un-
der the obligations he voluntarily made
in the counter-letter, and all Of these
obligations themselves zrore the right
Of property was in him alone under the
act of sale by which it was acquired
Chief Justice Ludeling, a witness in the
case, swears, "It was real transaction y
ssIt was not intended as an antichresis,
but as a contract OF sale"
The counter-letter is annexed in full
COUNTER-LETTEH.
State of Louisiana,
Parish of Ouachita.
Know all men by these presents, That
on this, the 2Sth day of May, A. d. 1866
John Calderwood, of Ouachita, sold and
transferred unto VIM. Calderwood two
certain lots of ground in the town o.
Monroe, between Grand street and the
river and fronting 25 feet on GranG
street, bounded above by property of
G. Million, deceased, and the other LOT
adjoins the one just described, and eX'
tends down the river on Grand street
with all the buildings and improve.
ments thereon, being the same acquir'
ed by this vendor from j Chanlrau Oh
the 18th of April, 1864; and also the
said J. Calderwood sold and transferred
to VIM. Calderwood lots one, two
three, four and five of square No. e.
Four in the town of Monroe as per e2eeo
passed this day before Charles Delery.
Recorder of the parish of Ouachita, fol-
$G5OO.OO. Now, therefore, this counter
letter is to certify and explain the true
intent and object of the said parties to
said act of sale, to-wit: Whereas, John
Calderwood is indebted unto VIM. Cal
derwood in the sum of $247O.OO U. S.
treasury notes for services now, there
fore, the aforesaid sale and transfer is
made to secure and guarantee the pay
ment of said sum of money; and the
said VIM. CalderwOOd does hereby OBJ
ligate himself not to sell any part of
the consent of J. CalderwoOd and that
when any part of said property shall
have been sold, the price to the extent
of $247O.OO shall be retained by said
VIM. CalderWood and the remainder
shall be paid or turned over to John
CalderWood, his heirs or assigns; pro-
vided, the said John CalderwoOd shall
first return to VIM. Underwood, his
heirs or executors, his notes given fol
the credit portion of the price or secure
him against the payment thereof. And
| the said VIM. CalderwOod does hereby
further obligate himself, his heirs OF
executors, to re-transfer unto John Cal
derwood, his heirs or assigns or lega
representative, the property aforesaid
whenever he, the said VIM. Calder
wood, shall have been paid the s247O.OO
and that he will not mortgage or en-
cumber said property to the prejudice
of said John Calderwood, his heirs OF
legal representatives.
In faith whereof the parties aforesaid
have signed this counter-letter on the
day above written.
GSirned1 JOHN CAIDERWOOD,