First Nat'l Bank of Anthony v. Dunning

Pierron, J.;

The First National Bank of Anthony (Bank), plaintiff/appellant, appeals the trial court’s decision in favor of Minnie I. Dunning, defendant/appellee. The court held Minnie was discharged from a surety agreement after the Bank and the principal, Floyd R. Dunning, Jr., modified the principal’s contract without Minnie’s consent. Minnie cross-appeals.

The main issue raised by appellant is whether the granting of an extension of time for two installment payments and increasing the rate of interest on the note modified the underlying agreement so as to discharge the surety.

On…