SALOMONSKY v. KELLY

Record Nos. 831792, 831793.

349 S.E.2d 358 (1986)

H. Louis SALOMONSKY v. John F. KELLY, Executor of the Estate of J. Monte Williamson. Tiffany H. ARMSTRONG v. John F. KELLY, Executor of the Estate of J. Monte Williamson.

Supreme Court of Virginia.

October 10, 1986.


Attorney(s) appearing for the Case

James R. Sheeran, Richmond, for appellant in both cases.

Michael J. Kelly (William I. Bandas, Richmond, on brief), for appellee in both cases.

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


THOMAS, Justice.

The central issue in these appeals is whether two separate actions based on virtually identical notes were barred by the applicable statute of limitations. In order to resolve this issue, we must first determine whether the notes are negotiable instruments as defined in the Uniform Commercial Code (UCC) and, if so, whether the notes are payable at a definite time or on demand.

In March 1976, J. Monte Williamson, the owner of a 16.65% interest...

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