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2 Rob. 303

Fitzwilliams v. Wilcox

Supreme Court of Louisiana

Decided May 15, 1842

Supreme Court of Louisiana · decided 1842-05-15

<p>The possession of a promissory note, payable to order, and endorsed in blank, is prima facie evidence of title, the' property passing by delivery. No other transfer is necessary to entitle a party to avail himself, via ordinaria, of a mortgage given to secure its payment; but to proceed, via executiva, the mortgage must be transferred by an authentic act.</p>

Decided 1842-05-15

MartiN, J.

¶1The defendants, endorsers of a note, are appellants from a judgment against them. They resisted the plaintiff’s claim *304on an averment that he is without interest in the note, otherwise than so far as may be necessary to avail himself of a mortgage given to secure the payment of the note to the Exchange and Banking Company, which was transferred by the Bank to the plaintiff bj a notarial act.

¶2The plaintiff is in possession of the note, with the-blank indorse-ments of the defendants. They do not allege that he is so without consideration, and indeed the consideration is proved; but they urge that the notarial act executed by the Bank in his favor, speaks only of the transfer of the mortgage without saying a word as to that of the note. The District Judge was of opinion, that possession of a promissory note payable to order, and indorsed in blank, is prima facie evidence of title. The property of such a note passes by delivery. The plaintiff needed no other transfer of the note, and his possession would have entitled him to avail himself of the mortgage ; but this he could, not have done, via executive, without an authentic transfer of the mortgage. He, therefore, did not content himself with merely receiving the note, but required a notarial transfer of the mortgage, in order that he might not be compelled to resort to the via ordinaria for the purpose of having the land sold.

¶3 Judgment affirmed.

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