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THORNTON v. ANKENY STATE BANK

No. 89-300.

453 N.W.2d 240 (1990)

Marvin THORNTON, Appellee, v. ANKENY STATE BANK, Appellant.

Court of Appeals of Iowa.

January 25, 1990.

Attorney(s) appearing for the Case

Larry J. Handley of Handley & Block, Ankeny, for appellant.

Kolleen K. Samek, Des Moines, for appellee.

Considered by SCHLEGEL, P.J., and HAYDEN and HABHAB, JJ.

SCHLEGEL, Presiding Judge.

The defendant Ankeny State Bank (Bank) appeals a ruling of the district court holding that the plaintiff was no longer liable to the Bank on a note originally executed by plaintiff, on the grounds of no new consideration. We affirm the trial court.

In October 1985, Marvin Thornton executed a note as a cosigner in favor of the Ankeny State Bank on behalf of Patricia Newville in the amount of $3,326.79 with interest of 15% per annum...

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