It is signed and dated 1912 lower right.
It is in very good condition, with a beautiful freshness of color and well framed.
French watercolorist and engraver, Ernest Laborde (1870-1935) produced numerous views of Paris in the first decades of the 20th century. This watercolor is a precious testimony to the architectural history of Paris because the Cour du dragon, linking the rue du dragon to the rue de Rennes, was demolished during the interwar period. There you can see the shopfronts of a metal workshop and a handcart rental shop, as well as a niche decorated with a statue of the Virgin overlooking a well.
It belonged to the famous merchant, patron and collector Georges Couturat (1890-1948).
The Carnavalet Museum holds an etching version of the same composition in its collections: https://www.parismuseescollections.paris.fr/fr/musee-carnavalet/oeuvres/vierge-dans-la-cour-du-dragon#infos-principales