DeCota v. J.E.M. Development Corp.

MONTGOMERY, Presiding Judge.

Duane C. DeCota (Plaintiff) sued J.E.M. Development Corporation (JEM), John P. Dilks (John)1 and Mary Lou Dilks (Mary) after JEM failed to pay a promissory note in favor of the First Financial Bank of Southeast Missouri (Bank). Plaintiff, John, and Mary (John’s wife) guaranteed payment of JEM’s note by their individual guaranty agreements signed on April 8,1991, the same day the note was made.

John, as JEM’s president, executed the note which contained a maturity date of July 8,1991. The time for payment was extended four different times by extension agreements…