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FIRST NAT. EXCH. BANK OF VA. v. JOHNSON

Record No. 840164.

355 S.E.2d 326 (1987)

FIRST NATIONAL EXCHANGE BANK OF VIRGINIA v. Peggy M. JOHNSON.

Supreme Court of Virginia.

April 24, 1987.

Attorney(s) appearing for the Case

Charles E. Schelin (Browning, Morefield and Schelin, P.C., Lebanon, on brief), for appellant.

David L. Scyphers (Johnson, Scyphers & Austin, P.C., Abingdon, on brief), for appellee.

Present: CARRICO, C.J., and COCHRAN, POFF, COMPTON, STEPHENSON, RUSSELL and THOMAS, JJ.

COMPTON, Justice.

This is an appeal in an action brought by a bank to recover on a demand note. We must determine whether the trial court erred in denying recovery against one of two makers of the note upon grounds of lack of consideration and constructive fraud.

The facts mainly are undisputed. In 1978, appellant First National Exchange Bank of Virginia through its branch office in the town of Lebanon made a commitment to Earl D. Johnson for a line of credit...

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