First National Bank of Ceredo v. Linn

Miller, Justice:

This appeal involves the application of certain principles set out in our Uniform Commercial Code to determine whether the appellees, Messrs. Linn and Thompson, were indorsers under W. Va. Code, 46-3-414 or guarantors under W. Va. Code, 46-3-416. The resolution of appellees’ standing determines their liability on a note since the appellant, First National Bank of Ceredo (Bank), failed to give them notice of dishonor after the primary obligor did not pay on the note. The requirement of notice of dishonor is necessary to affix liability on an indorser but is not required for…