Home Center Supply of Maryland, Inc. v. Certainteed Corp.

BELL, Judge.

In this case, Appellant indorsed a promissory note representing an antecedent obligation owed by the maker of the note to the payee. During the discussions about the note, the payee promised to extend a line of credit to the maker of the note. The maker defaulted on the note. The question now before us is whether the alleged failure of the payee to fulfill its promise to extend credit excused liability on the part of the indorser of the note. We hold that it did not.

Before we address the merits of this issue, a brief factual background is in order.

CertainTeed Corporation, a…