New Orleans Silversmiths, Inc. v. Toups

Supreme Court of Louisiana
New Orleans Silversmiths, Inc. v. Toups, 263 So. 2d 47 (La. 1972)
262 La. 309; 1972 La. LEXIS 4957
Tate

New Orleans Silversmiths, Inc. v. Toups

Opinion

TATE, J.,

concurs. Technically, as the court of appeal dissent correctly points out, Civil Code Article 3158 and its 1952 amendment only affect a pledge and do not regulate the extent of a mortgage and the necessity for a principal debt secured thereby, insofar as third persons are concerned. Nevertheless, taking into consideration the jurisprudential development of the “collateral mortgage” security device, based upon the pledge of the collateral mortgage note, I think the court of appeal majority ascribed an appropriate legislative intent t® the 1952 amendment of Article 3158.

Reference

Full Case Name
NEW ORLEANS SILVERSMITHS, INC. v. Algert J. TOUPS
Status
Published