McGhee v. First State Bank & Trust Co. of Manchester

WILHOIT, Judge.

On October 12, 1983, the appellant, Marilyn Emmons McGhee, signed a $6,000 promissory note payable to the appellee, First State Bank of Manchester, Kentucky. There is no question that Ms. McGhee signed the note solely to accommodate Leslie Hensley who received the proceeds of the loan and who was unable to borrow any sums from the bank without an accommodation endorser. The note, which bore an interest rate of 12½ percent, came due on April 9,1984. Hensley did not pay the note when due. Ms. McGhee paid the interest on the note and it was renewed for another six months. When the…