Rea v. Caire

Citations

• 14 Teiss. 331
• 1917 La. App. LEXIS 64

Syllabus

<p>Syllabus.</p> <p>1. The transferee of a note cannot stand by and see the drawer make partial payments to a former owner whom he still believes to be the holder thereof, and afterwards repudiate such payments and claim the amount of the note from the maker.</p> <p>2. When the transferee of a note keeps himself in the background so as to remain unknown to the maker of the note, and receives partial payments made to the former owner, the fact of the matter is that he wishes the maker to continue in the belief that such former owner is still the holder of the note; and this constitutes such former owner his agent for the purpose of collecting upon the note until he gives the maker notice to the contrary.</p>