Spearing & Co. v. Succession of Zacharie
Cases that cite this one
2 later published cases cite this decision.
- Estate of Sedonia William v. Delores Benoit (La. Ct. App. 2011)
- DeRouin v. Hinphy (La. Ct. App. 1968)
This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.
Opinion of the Court
This suit is based on the following instrument:
“New Orleans, June 3, 1862.
“Due Messrs. Spearing & Co. six thousand dollars in current funds, subject to their draft or drafts at not less than sixty days after sight.
“J. W. ZACHARIE,
$6000. “ pp. Robert Jump.”
The court sustained the plea of prescription of five years and dismissed the suit. The plaintiffs appeal. The question is, is the above instrument a promissory note 9 If so, the action is barred by prescription. It is an acknowledgment of an indebtedness of a specific sum, subject to (or payable), on payee’s draft or drafts, at not less than sixty days after sight. It is virtually an unconditional promise to pay a specific sum in current funds sixty days after demand.
In our opinion it contains substantially the elements of a promissory note. 22 An. 28; Parsons on Notes and Bills, chapter 2, pages 23-24.
It is therefore ordered that the judgment herein be affirmed with costs.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.