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FIRST NAT. BANK OF MARTINSVILLE v. COBLER

Record No. 740602.

213 S.E.2d 800 (1975)

215 Va. 852

FIRST NATIONAL BANK OF MARTINSVILLE and Henry County, Administrator of the Estate of John Alva Cobler, Deceased v. Sidney W. COBLER and Carolyn D. Cobler.

Supreme Court of Virginia.

April 28, 1975.

Attorney(s) appearing for the Case

Ralph B. Rhodes; Bruce E. Welch, Rocky Mount (Hutcherson & Rhodes, Rocky Mount, on brief), for appellant.

Willard R. Finney, Rocky Mount (B. A. Davis, Jr., Rocky Mount, on brief), for appellees.

Before I'ANSON, C. J., and CARRICO, HARRISON, COCHRAN, HARMAN, POFF and COMPTON, JJ.

COMPTON, Justice.

We consider in this appeal whether there has been a renunciation by surrender of a negotiable instrument, within the meaning of the pertinent provisions of the Uniform Commercial Code.1

On July 16, 1966, to evidence an indebtedness created by a loan, the plaintiffs-appellees, Sidney W. Cobler and Carolyn D. Cobler, his wife, executed a promissory note payable to John Alva Cobler, Sidney's uncle, for $4,500, with...

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