Dominion Bank v. Dominion Group I Ltd. Partnership

By Judge William H. Ledbetter, Jr.

This is an action on a promissory note, instituted by the Bank against the maker (the Partnership) and all guarantors.

John H. Toole and Lamar S. Toole have filed a demurrer. They say that the Bank cannot proceed against them as guarantors of the note until the Bank has obtained judgment against the maker and executed on that judgment. They cite Virginia Code §§ 49-25 and 49-26 as authority for their position.

Arguments on the demurrer were heard on April 22, 1992, and taken under advisement. This opinion letter addresses that matter.

Facts

Adhering to recognized…