Northwestern Mutual Life Insurance v. Menke

According to an annotation on page 282 following the opinion of the court in Insley v Webb, 41 A.L.R., 274, the weight of authority holds that such an extension of time of payment operates as such release; and on page 285 thereof Ohio is listed among the states that adhere to the contrary or minority rule. Similar statements of the law are found in annotations to Gilliam v McLemore, 43 A.L.R., 79 and Zastrow v Knight, 72 A.L.R., 379. The rule in Ohio is stated in Teeters v Lamborn, 43 Oh St, 144, the second syllabus whereof reads as follows:

“A debtor who has given a note secured by a mortgage…