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LAMBERT v. BARKER

Record No. 822276.

348 S.E.2d 214 (1986)

Katherine W. LAMBERT, Trustee, etc. v. William K. BARKER, et al.

Supreme Court of Virginia.

September 5, 1986.

Attorney(s) appearing for the Case

Benjamin C. Ackerly (Dennis T. Lewandowski, John A. Lucas, Hunton & Williams, Richmond, on briefs), for appellant.

Thomas F. Eubank (Spinella, Owings, Jackson, Steverson, Mizell & Eubank, Richmond, on brief), for appellees.

Present: CARRICO, C.J., COCHRAN, POFF, COMPTON, STEPHENSON, and RUSSELL, JJ., and GORDON, Retired Justice.

COCHRAN, Justice.

The central question in this appeal is whether payment by the obligors of a note to a party not in possession of the note discharged the obligation of the makers and precluded recovery on the note by the party in possession.

The facts surrounding the underlying transactions are substantially undisputed. In May 1978, William K. Barker and Barbara R. Barker acquired from Robert O. Davis, Jr., property located at 2610 Monument

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