Louisiana & Western Railroad v. Dillard

Citations

• 51 La. Ann. 1484
• 26 So. 451
• 1899 La. LEXIS 586

Syllabus

<p>Syllabus.</p> <p>Au instrument of writing which recites that “we hereby guarantee that the town of Homer will furnish a free right of way to the La. & N. W. R. R. Co. to the Arkansas line — is in terms and in legal effect, an ordinary contract of commercial guaranty, and the parties signing same bind themselves jointly.</p> <p>It is in its nature an independent undertaking, and did not require any action on the part of the town of Ilomer as a condition precedent to its perfection; and, being absolute in terms, no formal notification of acceptance on the part of the railroad company to the obligors was necessary to make it binding on them.</p> <p>Its terms are equivalent to a guaranty that the municipality would vote a special tax in aid of the construction of the railroad, and that was a good consideration.</p>