Pugh v. Sample

Citations

• 123 La. 791
• 49 So. 526
• 1909 La. LEXIS 781

Syllabus

<p>1. Subrogation (§ 7*)- — Payment of Judgment— Promissory Notes.</p> <p>Where one, not the maker, places his name on a negotiable promissory note, without “clearly indicating, by appropriate words, his intention to be bound in some other capacity,” his rights and obligations are those of an indorser, and the maker of the note is the primary and principal debtor. When, therefore, a party, who is condemned by a judgment for a certain amount, executes his note, which is indorsed by other parties (who have been condemned by the same judgment, as his sureties), for the purpose of borrowing money with which to pay such judgment, the proceeds of the discount must be regarded as loaned to the maker, and the payment of such proceeds in satisfaction of the judgment as a payment by the maker.</p> <p>[Ed. Note. — For other cases, see Subrogation, Dec. Dig. § 7.*]</p> <p>2. Mortgages (§ 295*) — Merger—Defective Title — Revivor.</p> <p>Whilst one cannot be, at the same time, owner and mortgagee of the same property, if the title which, apparently conveying perfect ownership, is supposed to destroy the mortgage, by confusion turns out to be no title, or an imperfect title, the mortgage, which was suspended, and thus apparently destroyed, upon the assumption of perfect ownership, revives; the cause of its suspension and supposed destruction no longer existing. “The effect cannot have a longer duration than the cause.”</p> <p>[Ed. Note. — For other cases, see Mortgages, Dec. Dig. § 295.*]</p> <p>(Syllabus by the Court.)</p>