National Bank of Commerce v. Guthrie

Citations

• 11 S.D. 517
• 78 N.W. 995
• 1899 S.D. LEXIS 32

Syllabus

<p>Under Comp. Laws, § 3491, providing that “an obligation is extinguished by a release therefrom given to the debtor by the creditor upon a new consideration,” parol evidence is competent to show that one of the makers of an unsecured note gave a new note, secured by a mortgage, for one-half the amount of the old, and that the new note was received by payee, under an express agreement, in full satisfaction of all claims against the maker on the old note.</p>