Marinoni v. Levy

Citations

• 9 Teiss. 253
• 1912 La. App. LEXIS 56

Syllabus

<p>1. The statutory right of pledge of the lessor on the effects of the sub-lessee cannot be affected by the fact that the sub-lessee has-given to the principal lessee negotiable rent notes which are outstanding in the hands of a third party.</p> <p>2. The trend of jurisprudence is to the effect that the negotiability of a rent note is not affected by the fact that its ■ consideration is to be hereafter realized or that from some contingency it may never be enjoyed, so long as the obligation retains its unconditional character and the certainty of payment in money of a fixed sum on a fixed day.</p> <p>3. Act 64 of 1904. known as the Negotiable Instrument Law, is ■ mainly intended to cpdify the law merchant as settled by the Courts. Unless its language . clearly shows an intention to establish a new rule, it will be construed as merely declaratory of the jurisprudence as it stood before its adoption.</p> <p>4. The Statute as construed by the text writers and the Courts, has left unimpaired the jurisprudence existing at the time of its adaption, on the subject of the negotiability of rent notes.</p>