Upshaw v. First State Bank

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that a change in the amount owed by the principal results in a novation that releases the guarantor, even when the guarantor’s potential liability was contractually capped
• The new “note represented a new indebtedness, which was a novation in the amount owed by the principal. This novation discharges the sureties.”
• The new “note represented a new indebtedness, which was a novation in the amount owed by the principal. This novation discharges the sureties.”
• wherein the note which was the sub ject of the guaranty agreement was superseded by a new note consolidating several other debts
• “[T]his court has long held that any change, whether to the surety’s benefit or detriment[,] is a novation which discharges the surety.”

Source: CourtListener parenthetical corpus (CC0).