Coombs v. Beneficial Finance Co.

GANT, Judge.

On October 21, 1974, the Appellant, Claude A. Coombs, signed a certain promissory note as surety and co-obligor for one June Mclnerney to the Appellee, Beneficial Finance Company. The first payment was due on December 4, 1974, and apparently the Appellant learned immediately thereafter that the principal on the note had no intention of making payments thereunder. On December 27, 1974, Appellant notified the Appellee, pursuant to Ky.Rev.Stat. 412.-110, that it should immediately proceed to collect from the principal.

This statute requires the creditor, after receipt of such notice,…