Neinaber v. Raine

Citations

• 9 Teiss. 64
• 1911 La. App. LEXIS 141

Syllabus

<p>I. Where a purchaser, not a party to a mortgage note, assumes its payment as part of the purchase price, such assumption is a stipulation pour autmi, which creates a personal obligation to pay the, price of sale and which is subject to the prescription of ten years.</p> <p>2'. The third person may,, so long as the assumption has not been revoked, avail himself by suit of the advantage stipulated in his . favor.</p> <p>Former decree reinstated.</p>