Tobin v. O'Kelly

Citations

• 117 La. 753
• 42 So. 258
• 1906 La. LEXIS 766

Syllabus

<p>1. Auctions — Liabilities oe Purchasers.</p> <p>An adjudicatee at public auction, who has been condemned to comply with the terms of the adjudication, must pay interest on the •credit portion of the price represented by notes.</p> <p>2. Same — Interest.</p> <p>The right to suspend payment of the price ■does not necessarily imply a forfeiture of any part of the debt or its accessories. The purchaser must either deposit the amount of his purchase or pay interest thereon. Morris v. Cain, 1 South. 797, 2 South. 418, 39 La. Ann. 74<X</p> <p>3. Same.</p> <p>The dictum of Duruty’s Case, 7 South. 555, 42 La. Ann. 362 and of Tobin’s Case, 39 South. •33, 115 La. 366, applies only to the cash portion of the price, and to cases where judicial action is required to remove presumptive defects in the title tendered.</p> <p>(Syllabus by the Court.)</p>