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BANK OF RIPLEY v. SADLER

671 S.W.2d 454 (1984)

BANK OF RIPLEY, Appellant, v. Gene SADLER, Appellee.

Supreme Court of Tennessee, at Jackson.

April 30, 1984.

Attorney(s) appearing for the Case

Robert C. Wilder, Carney & Wilder, Ripley, for appellant.

Robert G. Millar, Shuttleworth, Smith, Millar & Sabbatini, Memphis, for appellee.

OPINION

FONES, Chief Justice.

The primary issue on this appeal is whether the bank's action in raising the interest rate one-half of one percent on a promissory note at the time it was extended was an alteration that was both material and fraudulent as contemplated in T.C.A. § 47-3-407 and discharged the surety, defendant Sadler. The secondary issue is whether the bank was guilty of unjustifiable impairment of collateral, and if so, to what extent....

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