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REX FINANCE COMPANY v. CARY

No. 324.

145 So.2d 672 (1962)

REX FINANCE COMPANY v. Martha R. CARY and Walter B. Cary, et al.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearing Denied October 29, 1962.

Certiorari Granted January 3, 1963.

Attorney(s) appearing for the Case

Clem H. Sehrt, Edw. J. Boyle, Sr., Virgil M. Wheeler, Jr., Edw. J. Boyle, Jr., and Peter J. Butler, New Orleans, for Martha R. Cary and Walter B. Cary, defendants-appellants.

Kathleen Ruddell, New Orleans, and Nicholas J. Gagliano, Metairie, for United States, defendant-appellant.

George E. Weigel, New Orleans, John E. Fleury, Gretna, and Charles J. Rivet, New Orleans, for plaintiff-appellee.

Before AYRES, DAWKINS and ALLEN, JJ.

H. W. AYRES, Judge.

The issues on this appeal concern the validity, vel non, of a pledge of a mortgage note executed by the defendants, Martha R. Cary and Walter B. Cary, and its rank as a privilege with an income tax lien asserted by the United States of America upon the property mortgaged.

On trial of the merits, the validity of the pledge of the mortgage note for the payment of an obligation in the principal sum of $12,000.00 was recognized and the obligation...

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