Scott v. Gaulding

Eeid, Chief Justice.

The Court of Appeals certified the following question: “Does the mere failure of the payee of a note, who is the holder thereof, to institute suit to recover on the note against one of the sureties thereon, before the expiration of the period of limitation in which suit must be brought against this surety, amount to a release by the payee of the obligation to him of a co-surety on the note whose obligation is not barred by the statute of limitations, where the payee’s act in refraining from instituting the suit as indicated was not procured by or consented or agreed to by…