Legal Opinion
Bank of Ripley v. Sadler
Tennessee Supreme Court
Decided April 30, 1984PublishedCited by 17 opinions
1Opinion of the Court
OPINION
FONES, Chief Justice.
The primary issue on this appeal is whether the bank’s action in raising the interest rate one-half of one percent on a promissory note at the time it was extended was an alteration that was both material and fraudulent as contemplated in T.C.A. § 47-3-407 and discharged the surety, defendant Sadler. The secondary issue is whether the bank was guilty of unjustifiable impairment of collateral, and if so, to what extent.
Plaintiff bank was awarded a judgment against Sadler for the balance due on a $30,000 promissory note, plus attorney’s fees. The Court of Appeals…
2Cases cited5 opinions
- Hutcheson v. HerronAppellate Court of Illinois · 1970
- Thomas v. OsbornCourt of Appeals of Washington · 1975
- Bluffestone v. AbrahamsCourt of Appeals of Arizona · 1979
- New Britain National Bank v. BaughAppellate Division of the Supreme Court of the State of New York · 1969
- Gaffin v. HeymannSupreme Court of Rhode Island · 1981
3Cited by17 opinions
- John P. Saad & Sons, Inc. v. Nashville Thermal Transfer Corp.Tennessee Supreme Court · 1986
- Citizen's National Bank of Willmar v. TaylorSupreme Court of Minnesota · 1985
- Womack v. First State Bank of Calico RockCourt of Appeals of Arkansas · 1987
- Northwestern National Insurance Company of Milwaukee, Wisconsin, Cross-Appellee v. Jerry LutzCourt of Appeals for the Seventh Circuit · 1996
- Bank South v. JonesCourt of Appeals of Georgia · 1987
12 more not listed; retrieve them via the Exa API.