GULLETTE v. FEDERAL DEPOSIT INS. CORP.

Record No. 830681.

344 S.E.2d 920 (1986)

George L. GULLETTE v. FEDERAL DEPOSIT INSURANCE CORPORATION.

Supreme Court of Virginia.

June 13, 1986.


Attorney(s) appearing for the Case

George E. Marzloff, Stafford, for appellant.

James S.G. Turner, Dumfries, for appellee.

Present: All the Justices.


THOMAS, Justice.

The issue in this appeal is whether there was a novation of a note executed by George L. Gullette in 1979 resulting in Gullette's release from liability on that note. The trial court held that a novation was not established. We agree.

On January 23, 1979, Tom L. Barrow and Gullette, trading as B & G Investors, executed a promissory note payable to Aquia Bank and Trust Company in the amount of $40,000 (the 1979 Note). The 1979 Note was...

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