§5807. Interruption of prescription on pledged obligations by payment on obligation secured by pledge
A payment by a debtor of interest or principal of an obligation shall constitute an acknowledgement of all other obligations including promissory notes of such debtor or his codebtors in solido pledged by the debtor or his codebtors in solido to secure the obligation as to which payment is made. In all cases the party claiming an interruption of prescription of such pledged obligation including a promissory note as a result of such acknowledgement shall have the burden of proving all of the elements necessary to establish the same. For purposes of this Section, a "pledged obligation" shall include any obligation, including a promissory note, in which a security interest has been granted under Chapter 9 of the Louisiana Commercial Laws or the corresponding provisions of the Uniform Commercial Code as adopted in any other state, to the extent applicable.
Acts 1991, No. 377, §3, eff. Jan. 1, 1992.
Notes of Decisions
Bank of New Orleans v. HPB, Jr. Dev., 427 So. 2d 486 (La. Ct. App. 1983).
· cites it 3× “Appellants support their argument by citing LSA-R.S. 9:5807 [3] . The effect of that statute in the collateral mortgage context is that a debtor's payment of principal or interest on the hand note operates to interrupt five-year prescription not only on that note, but also on…”
Kaplan v. Univ. Lake Corp., 381 So. 2d 385 (La. 1980).
“R.S. 9:5807 provides as follows: `The partial payment of a promissory note by the maker thereof shall interrupt prescription upon any and all other promissory notes which have been pledged by said maker to secure the payment of the promissory note upon which the partial payment…”
Harrison v. Smith, 814 So. 2d 42 (La. Ct. App. 2002).
“R.S. 9:5807. This statute provides in pertinent part as follows: A payment by a debtor of interest or principal of an obligation shall constitute an acknowledgement of all other obligations including promissory notes of such debtor or his codebtors in solido pledged by the…”
City of Shreveport v. Black, 194 So. 3d 1132 (La. Ct. App. 2016).
· cites it 2× “R.S. 9:5807, which states: 13A payment by a debtor of interest or principal of an obligation shall constitute an acknowledgment of all other obligations including promissory notes of such debtor or his codebtors in solido pledged by the debtor or his codebtors in solido to…”
Gulf Coast Bank & Trust v. Donnaud's Inc., 759 So. 2d 268 (La. Ct. App. 2000).
“LSA-R.S. 9:5807 provides that payment on the promissory note interrupts prescription of the collateral mortgage note pledged to secure the promissory notes.”
McGill v. Thigpen, 780 So. 2d 1224 (La. Ct. App. 2001).
· cites it 2× “R.S. 9:5807. [3] We find that the collateral mortgage notes of May 26, 1982 and February 29, 1984 are prescribed on the face of the plaintiffs' petition and that no viable claim remains against the land that is subject to the *1229 mortgages securing the collateral mortgage…”
Sec. Nat'l Partners v. Kothe, 703 So. 2d 101 (La. Ct. App. 1997).
· cites it 3× “| a (Additionally, plaintiffs reliance on LSA-R.S. 9:5807 and Manuel Tire Co. v. J.”
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