Chambers Roy & Co. v. Knapp

20 So. 677, 48 La. Ann. 1156, 1896 La. LEXIS 585

Opinion

The opinion of the court was delivered by

Breaux, J.

The facts are similar to those in the case of A. Lehman & Co. vs. S. A. Knapp et als., ante, p. 1148, save that the plaintiffs held notes representing defendants’ indebtedness to them. The acceptance of a note is not deemed a payment or novation unless the parties so agree.

It follows that if a corporation becomes indebted at. a time when those who organized it are in default in not properly indicating, as-the State requires, that it is a company limited, they are liable personally and are not discharged by the fact that their creditors accepted their note.

The judgment is therefore affirmed.