Alberstadt v. Sovran Bank

WILNER, Judge.

There is a single issue before us in this appeal; it has to do with the statute of limitations. The underlying facts are fairly straightforward and largely uncontested.

*617On May 19, 1981, AMS Construction, Inc. (AMS) borrowed $60,000 from Sovran Bank1 and signed a promissory note agreeing to repay that amount, with interest, within 90 days. Along with two other officer/stockholders of AMS, appellant endorsed the note as a guarantor. On August 6, 1981 — 11 days before the due date — AMS paid the note, together with $2,762 in interest. Forty-five days later — on September 16, 1981 —…