Franz v. Schiro
Franz v. Schiro
Opinion of the Court
Plaintiff sues upon a negotiable promissory note, acquired for value and before maturity, and the defense is that the plaintiff is not the real owner, but that he holds for his wife, and that the wife, by certain tortious acts, with the consent and approval of her husband, has damaged defendant in an unnamed amount, and that defendant therefore owes nothing on said note.
There was judgment for plaintiff, and defendant has appealed.
The court ordered: “Bet the objection go to the effect.” The objection should have been sustained.
Plaintiff being a holder of the note sued on in due course, his claim thereunder could not be compensated, or set off, by an unliquidated claim which defendant might have against him. C. C. art. 2209.
Judgment affirmed.
Reference
- Full Case Name
- FRANZ v. SCHIRO
- Cited By
- 4 cases
- Status
- Published
- Syllabus
- (Syllabus by the Court.) 1. Bills and Notes €=370, 453 — Want oe ' Consideration. “Absence or failure of consideration is a matter of defense against any person not the holder of a promissory note in due course.” [Ed. Note. — For other cases, see Bills and Notes, Cent. Dig. §§ 963, 1344-1351; Dec. Dig. 2. Set-Oee and Counterclaim “Compensation takes place only between two debts, having equally for their objects a sum of money, or a certain quantity of consumable things of one and the same kind, and which are equally liquidated and demandable.” [Ed. Note. — For other cases, see Set-Off and Counterclaim, Cent. Dig. §§ 58-64; Dec. Dig.