King v. Jung

Citations

• 9 Teiss. 23
• 1911 La. App. LEXIS 122

Syllabus

<p>X,. The holder of a promissory note may sue thereon -though not the owner thereof, .and the maker (who would be discharged by payment to the holder), cannot raise the question of ownership, except for the purpose of setting up any equities which he might have against the true owner.</p> <p>2. One who acquires a promissory note after maturity takes it sub- ' ject to all existing equities in favor of the drawer; but payment' made to one not the holder at the time of such páyment does not discharge the note, and gives rise to no equity in favor óf the drawer.</p>