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FEDERAL LAND BANK OF LOUISVILLE v. TAGGART

No. 86-1355.

31 Ohio St. 3d 8 (1987)

FEDERAL LAND BANK OF LOUISVILLE, APPELLANT, v. TAGGART ET AL.; BAILEY, APPELLEE.

Supreme Court of Ohio.

Decided May 27, 1987.

Attorney(s) appearing for the Case

Hite & Hite and F. Richard Heath, for appellant. J. Boyd Binning, for appellee.

HOLMES, J.

The court of appeals determined that when a lending institution grants an extension of time to make payment to the primary obligor of a promissory note, which is secured by a mortgage, but does not otherwise involve the surety on the note, such surety is discharged by operation of R.C. 1303.01 et seq. (UCC Article 3), as adopted by the General Assembly. In this instance, for the reasons set forth hereinafter...

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