First National Bank v. Benedict Consolidated Industries, Inc.

The First National Bank, Stromsburg, Nebraska (First National), filed suit against Benedict Consolidated Industries, Inc. (BCI), and Robert W. Baker, Ronald L. Baker, and William E. Reetz, as guarantors of a certain note executed and delivered by BCI to First National in the principal sum of $70,894.03. The note provided on its face that it was initially due on February 13, 1982. The note further provided on its face, “Sureties, endorsers and guarantors consent that time of payment of this note or any part thereof may be extended from time to time without notice” (Emphasis supplied.) The…