Johnson v. Sterling
Johnson v. Sterling
Opinion of the Court
delivered the opinion of the court. This action was instituted against the defendant as surviving partner of the firm of A. & S. Sterling. The plaintiffs demand the sum of 12,036 85 cents. as the alleged balance yet clue on a note executed by the said A. & S. Sterling, in favor of the petitioners, for $4,248 53, and also $101 80, for services rendered by one of the latter in collecting debts which he had received from the defendant, on account of the note on which this suit is brought.
The cause was submitted to a jury, who found a verdict in favor of the plaintiffs for $716 89, and that one of the bonds received by them as collateral security, should be returned to the defendant. The judgment of the court affirmed the verdict for the money declared to be due, but is silent in relation to the bond. The defendant appealed. And the plaintiffs, under the act of the legislature, have prayed that the judgment of the court below be amended in their favor.
In the first agreement entered into between the parties in relation to the bonds, and judgment assigned to the plaintiffs in security of the debt now sued for, it was agreed that the claims so transferred, should be collected at
After they had acted some time under this agreement, a second one was made; in which alter reciting that certain judgments had been assigned as collateral security for a debt due In A. & J, Sterling, to Mrs. Martha S. Johnston, on which judgments, executions had issued, and twelve months bonds taken, it states, “ the clerk and sheriff of the parish will consider R. Post Johnson, or his agent, as the only person to be allowed to take said bonds out of the office, or receive the money due thereon, when collected.”
The have been accused of negligence in the discharge of the obligation, which it is alleged they assumed by this agreement; so collect these debts without delay, by due course of law. The plaintiff, in our opinion, did not undertake to collect these debts without delay, in due course of law. They were the agents of the defendant, and their responsibility depends on their having acted with that diligence and good faith the law requires from
The obligation was for $4,248 55, on which interest was agreed to be paid, at the rate of ten per cent. from the time it fell due, viz. from the 22d of January, 1821.
The above sums deducted from the principal, leaves due on the 24th November, 1823, $1250 70 cents, for which the plaintiffs are entitled to judgment, with interest at ten per cent, until paid. The interest has been calculated on the principle established in the case of Hynson vs. Madden & al., Vol. 1, 571.
In addition to the sum yet due on the note, the plaintiffs claim the balance of an account annexed to their petition. This result is obtained by crediting the sum of $300 70 cents, from the whole amount. Whether the account be correct or not, this credit is erroneously given. As no imputation was made at the time of payment by the consent of the debtor, the money must be applied to the obligation he had most interest in discharging. We have accordingly imputed it to the note which was bearing ten per cent interest.
It is therefore ordered, adjudged and decreed, that the judgment of the district court
Case-law data current through December 31, 2025. Source: CourtListener bulk data.