FARMERS LOAN & TRUST CO. v. LETSINGER

No. 12S02-9506-CV-747.

652 N.E.2d 63 (1995)

FARMERS LOAN & TRUST CO., Appellant, v. Robert A. and Hulda Anne LETSINGER, Appellees.

Supreme Court of Indiana.

June 26, 1995.


Attorney(s) appearing for the Case

Thomas J. Trauring, Fell, McGarvey, Trauring & Wilson, Kokomo, for appellant.

R.C. Richmond, III, Sommer & Barnard, P.C., Indianapolis, for appellees.


ON PETITION TO TRANSFER

SULLIVAN, Justice.

In Farmers Loan & Trust Co. v. Letsinger (1994), Ind. App., 635 N.E.2d 194, the Court of Appeals held that the Indiana common law rule should be that when a creditor unjustifiably impairs collateral securing a debt, independent, absolute, continuing guarantors of that debt should be discharged to the extent that the creditor has impaired the collateral. Id. at...

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