Case Name: New Orleans, Florida, and Havana Steamship Company v. E. B. Briggs
Court: Louisiana Supreme Court
Jurisdiction: Louisiana
Decision Date: 1875-04
Citations: 27 La. 318
Docket Number: No. 4093
Parties: New Orleans, Florida, and Havana Steamship Company v. E. B. Briggs.
Judges: 
Reporter: Louisiana Annual Reports
Volume: 27
Pages: 318–318

Head Matter:
No. 4093.
New Orleans, Florida, and Havana Steamship Company v. E. B. Briggs.
The amount duo for unpaid stock must he paid. It is no defense to allege that the penalty for not paying said amount is the forfeiture of the stock.
APPEAL from the Fourth District Court, parish of Orleans. Theard, J. Jury trial.
Leovy & Monroe, for plaintiffs and appellants. Randolph, Singleton, & Browne, lor defendant and appellee.

Opinion:
Morgan, J.
Plaintiff seeks to recover from the defendant an amount due by him for unpaid stock.
The defense is that the penalty for not paying the amount due is the forfeiture of the stock.
The agreement to pay was an obligation on the part of the defendant, and we think the plaintiff has th6 right to enforce it.
It is therefore ordered, adjudged, and decreed that the verdict of the jury be set aside, and that there be judgment in favor of the plaintiff for seven hundred and fifty dollars with legal interest thereon.