Spears v. El Dorado Foundry, MacHine & Supply Co.

George Rose Smith, Justice.

This is a suit brought by the appellee upon a written contract by which the appellant and two other men guaranteed the payment of an open account owed to the plaintiff by Southern States Mechanical Contractors, Inc. The appellant insists that his liability as a guarantor was discharged by the • appellee’s action in extending the time for payment and in taking Southern States’s promissory note in place of the open account. The chancellor rejected this defense, but we are of the opinion that it should have been sustained.

R. L. Clinton, J. R. Gardner, and the appellant…