Legal Opinion
Schmuckie v. Alvey
Kentucky Supreme Court
Decided October 6, 1988No. 87-SC-670-DGPublishedCited by 8 opinions
1Opinion of the Court
LAMBERT, Justice.
Upon motion of appellant Gretchen Schmuckie, this Court granted discretionary review. The precise issue before us is whether a maker1 of a promissory note may be discharged from liability as a result of the holder’s impairment of collateral which secures payment of the instrument.
Appellees, James N. Alvey and Mary E. Alvey, conveyed a parcel of improved real property to James M. Schmuckie and Gretchen Schmuckie, husband and wife, and Joseph Sostarich and Doris Sostarich, husband and wife, for the sum of $230,000. Contemporaneous with the conveyance and in partial payment of…
2Cases cited18 opinions
- Crimmins v. LowryTexas Supreme Court · 1985
- Farmers State Bank v. CooperSupreme Court of Kansas · 1980
- United States v. Unum, Inc. And Lance W. DreyerCourt of Appeals for the Fifth Circuit · 1981
- Common Wealth Insurance Systems, Inc. v. KerstenCalifornia Court of Appeal · 1974
- Peoples Bank of Point Pleasant v. Pied Piper Retreat, Inc.West Virginia Supreme Court · 1974
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3Cited by8 opinions
- Branch Banking and Trust Co. v. ThompsonCourt of Appeals of North Carolina · 1992
- Haberl v. BigelowSupreme Court of Colorado · 1993
- Bissonnette v. WylieSupreme Court of Vermont · 1994
- Holt v. Peoples Bank of Mt. WashingtonKentucky Supreme Court · 1991
- Foster v. HACIENDA NIRVANA, INC.Supreme Court of Alabama · 2009
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