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BUSINESS BANK v. PLANK

Civ. A. No. 88-1303-A.

710 F.Supp. 619 (1989)

The BUSINESS BANK, Plaintiff, v. William H. PLANK and William P. Nottingham, Defendants and Third-Party Plaintiffs, v. UNITED FINANCIAL BANKING COMPANIES, INC., Third-Party Defendant.

United States District Court, E.D. Virginia, Alexandria Division.

April 20, 1989.

Attorney(s) appearing for the Case

John S. Stump, Sean F. Murphy, Richard C. Baker, McGuire, Woods, Battle & Boothe, McLean, Va., for plaintiff The Bus. Bank and third party defendant United Financial Banking Co., Inc.

John E. Harrison, Light & Harrison, McLean, Va., for defendants and third party plaintiffs.

MEMORANDUM OPINION

ELLIS, District Judge.

Among the host of issues raised in this diversity land development dispute is a uniform commercial code question addressed, but not explained, in Virginia. The question involves the application of Virginia Code § 8.3-407(2)(a) (1964). That Section, inter alia, provides that a maker of a note is discharged from his obligation where there is an alteration of the note "by the holder which is both fraudulent...

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