Narans v. Paulsen

GOLDEN, Justice.

The central question presented in this appeal is whether one of several co-makers on an original promissory note can become, on a subsequent renewal of that note, an accommodation party who, after he pays off the note, is entitled to recover on the note from the other original co-makers. After a bench trial, the district court judge found that A1 Paulsen, O.D., who along with his business associates had signed the original note, was an accommodation party on the last of several subsequent renewals of that note and was, therefore, entitled to recover from his business…