Dupre v. Richard
Dupre v. Richard
Opinion of the Court
This suit is brought against the endorser of a promissory note, duly protested at maturity, drawn and executed in the name of Desessarts, Martel & Co. His defence is, that the drawer of said note, or the person who signed it in the name of the firm, was not authorised to do so. That the note
Judgment was rendered below in favor of the plaintiff, and the defendant appealed.
It is not pretended that the defendant was not duly notified of the dishonor of the note, and the only question which this case presents is, whether the defendant, in a legal point of view, as well as under the circumstances of the case, can be allowed to set up as his defence that the note, which he endorsed, was drawn by one of the partners of a firm which was, at that time, dissolved, and who, having no authority to sign it, could not bind his co-partners under the social name 1
The evidence shows that .the note sued on, which was drawn for the sum of $1270 10, on the 11th of September, 1843, was given in renewal of another note due by the firm, and held by the plaintiff, ánd which was also endorsed by the defendant. The old note was for the sum of $1154 64, dated 11th of September, 1842, and made payable twelve months after its date. It fell due on the very day the new note was given, and one year’s interest, at ten per cent, being added to the principal, the aggregate made exactly the amount of the note sued on. The defendant was present when the new note was made; it was signed by Desessarts, at his, defendant’s, request, as a renewal; and the old note was given up to said defendant, after the new one had been handed over to the plaintiff.
It is a well settled doctrine that, after the dissolution of a partnership, no one of the partners is at liberty to use the social name so as to bind the others, and that the latter are not bound by his acknowledgement of any debt or account. 6 La. 683. 5 Rob. 172. 6 Ibid. 70. But the exception which may be considered as personal to the partners whose names have been used, may be waived by them, and, for aught we know, the partners of the firm, in whose names the note sued on was signed, may perhaps acknowledge their responsibility, on being ap- ' prized of the fact that it was given in renewal of one of the
But is it true, that the note having been drawn by a person who had no authority to bind his co-obligors, this is sufficient to discharge the endorser. There is no better settled doctrine than, that every endorsement is essentially an original contract, equivalent to the drawing of a new bill in favor of the holder, on the acceptor or obligor; and, as this court said in the case of Olivier v. Andry (7 La. 496), whether the endorsement was for the accommodation of the maker, or in the regular course of business, is immaterial. Chitty on- Bills, 266. Considered in this light, the recourse of the endorsee against the endorser is a direct one, to be exercised from the moment that the endorser is duly notified of the dishonor of the note; the latter stands then
Judgment affirmed.
Reference
- Full Case Name
- Cyprien Dupre v. Eugene Richard
- Cited By
- 1 case
- Status
- Published