Woolfolk v. Mathews

On. March 13, 1934, Mrs. W. M. Mathews brought suit against the Valley Milling Company as principal, and J. W. Woolfolk and B. D. Hale as indorsers, on a note dated May 12, 1921, and due on May 12, 1927, signed under seal by the Valley Milling Company, by J. W. Woolfolk, its president and B. D. Hale, its secretary. The indorsements of J. W. Woolfolk and B. D. Hale on the note were not under seal. On July 25, 1927, the Valley Milling Company executed an agreement extending the time of payment of the note, as follows: $1000 payable on January 25, 1928, and $6500 payable on July 25, 1930. -The…