Stanley v. Ames

The sole question raised by the plaintiffs’ appeal is whether modification of the terms of one payment of a note released an accommodation maker from all liability to the holders of the note. The District Court judge found that the accommodation maker was discharged. He entered judgment for the accommodation maker and reported the case to the Appellate Division of the District Court. The Appellate Division found no error in the finding that the accommodation maker was discharged, and the holders of the note appealed. We conclude that the accommodation maker was not discharged because, in…