Washer v. Tontar

*405OPINION

By WASHBURN, PJ.

It may be said that previous to the adoption of the uniform negotiable instruments code, the weight of authority in the United States supported the rule that, if the mortgagee, with knowledge of the conveyance of the property and assumption by the grantee of the mortgage debt, extended the time of payment by a valid agreement between him and the grantee, such extension operated to discharge the original mortgagor, unless such extension was assented to by the mortgagor or unless the rights of the mortgagee against the mortgagor were expressly reserved. Some of the…