Legal Opinion
Courson v. Simpson
Supreme Court of Virginia
Decided March 1, 1996No. Record 951295PublishedCited by 3 opinions
1Opinion of the CourtJustice Keenan
In this appeal, we consider whether a surety was discharged from its obligation by Code §§ 49-25 and -26,1 after giving written notice to the creditor to institute suit against a debtor corporation which the surety concedes was insolvent.
In 1981, Springfield Associates, Inc. borrowed $28,460.50 from a trust established by the estate of Robert C. Nicoll (the Nicoll trust). The loan was secured by a deed of trust on the personal residence of Eleanor E. and Herman L. Courson. Mr. Courson was vice president and one of the principal stockholders of Springfield Associates, Inc. However, neither he…
2Cases cited4 opinions
- First Virginia Bank-Colonial v. BakerSupreme Court of Virginia · 1983
- Bourne v. Board of SupervisorsSupreme Court of Virginia · 1934
- Hudson v. HudsonSupreme Court of Virginia · 1995
- Colonial American National Bank v. Robert L. KosnoskiCourt of Appeals for the Fourth Circuit · 1980
3Cited by3 opinions
- M & T Electrical Contractors, Inc. v. Capital Lighting & Supply, Inc. (In Re M & T Electrical Contractors, Inc.)District Court, District of Columbia · 2001
- Restaurant Co. v. United Leasing Corp.Supreme Court of Virginia · 2006
- Courson v. SimpsonSupreme Court of Virginia · 1996