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Leury v. Mayer
Louisiana Supreme Court
47 So. 839 (1908)
J. E. and Hannah Leury were the parents of Louis Leury (plaintiff). J. E. and Hannah owned 20 shares of bank stock as community property during their marriage. Upon Hannah’s death, J. E. retained his own one-half share of the shares of stocks and inherited a usufruct over Hannah’s one-half share for the duration of his life. At J. E.’s death, ownership of Hannah’s one-half share would pass to Louis as Hannah’s sole remaining descendant. Prior to his death, J. E. sold all 20 shares of stock to Mayer (defendant). After J. E.’s death, Louis sued Mayer, alleging that he was the owner of one-half of the shares of stock. The lower court held for Louis, declaring that he was the owner of one-half of the stock, and ordered that the stock and accrued dividends be sold and partitioned, to be divided equally between Louis and Mayer. Mayer appealed.
Rule of Law
Holding and Reasoning (Land, J.)
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