North Bank v. Circle Investment Co.

The plaintiff filed suit against appellant, an accommodation guarantor of a secured note and certain other parties, to receive the amount due. The trial court after hearing the evidence dismissed the jury and directed a verdict for the plaintiff. Only Valessares has appealed, contending:

1. the plaintiff’s extension of time for payment without the consent of the guarantor and without reserving rights released the guarantor;

2. the plaintiff’s failure to insist on the performance of an agreement to pledge the beneficial interest in a land trust acted as an impairment of collateral and released…