Case Name: Wood & Roane vs. Thompson Wood
Court: Louisiana Court of Appeal
Jurisdiction: Louisiana
Decision Date: 1885
Citations: 1 Gunby 16
Docket Number: 
Parties: Wood & Roane vs. Thompson Wood.
Judges: 
Reporter: Legal points decided by the Second circuit court of Louisiana (Gunby's Reports)
Volume: 1
Pages: 16–16

Head Matter:
Wood & Roane vs. Thompson Wood.

Opinion:
F. P. Stubbs, J.,
ad hoc. Defendant has no right to attack the title of plaintiffs to the notes sued on, which are payable to bearer, unless he allege and show defenses against the'true owner. 19 An. 182; 27 An. 642.
Where defendant owed two outstanding mortgage notes, and plaintiffs, at his request, took up said notes and extended the time of payment in consideration of fifteen per cent, on the amount paid therefor, held : Such a contract is not usurious, it being well settled that extension of time on a matured obligation is a good consideration for a new note. 26 An. 33; 27 An. 538.