Ramsey v. First National Bank & Trust Co. of Corbin

CLAYTON, Judge.

This appeal involves an action on a note made payable to the First National Bank of Corbin, Kentucky, by Granville Brock and Paul Ramsey as co-signers. A judgment for First National of $23,459.83 was entered against Paul Ramsey following a jury trial held in Knox Circuit Court on March 17, 1983. Ramsey now appeals arguing that he was entitled to a directed verdict under KRS 355.3-606, our state’s codification of Uniform Commercial Code § 3-606 entitled “impairment of recourse or of collateral.” Supposedly, when First National released Brock from his obligation to pay in…