Case Name: Union National Bank v. William H. Cooley and D. C. Labatt
Court: Louisiana Supreme Court
Jurisdiction: Louisiana
Decision Date: 1875-03
Citations: 27 La. 202
Docket Number: No. 4665
Parties: Union National Bank v. William H. Cooley and D. C. Labatt.
Judges: 
Reporter: Louisiana Annual Reports
Volume: 27
Pages: 202–203

Head Matter:
No. 4665.
Union National Bank v. William H. Cooley and D. C. Labatt.
The defense that the indorser of a promissory note was released "by the fact that the hank, without his knowledge or consent, gave up a warrant which had been pledged as collateral security, must be sustained. The indorser contends very properly that he could have made the warrant available, had it been retained and he required to pay the debt.
from the Sixth District Court, parish of Orleans. Saueier, J.
Oarleton Hunt, for plaintiff and appellee. JD. O. Labatt and T. J. Semmes, for defendant and appellant.

Opinion:
Ludeling, C. J.
This is a suit against the indorser of a promissory note, who alleges that he was released by the fact that the bank gave up a warrant, which had been pledged as collateral security, without his knowledge or consent. It appears the warrant had no validity, and, consequently, that the indorser was not in any manner affected by the giving up of the warrant, which had no value.
It is therefore ordered that the judgment be affirmed with costs.