Carl E. Crimmins, Petitioner v. James M. Lowry, Respondent

Summary

The Texas Supreme Court held that a comaker on a promissory note may assert the impairment of collateral defense under Texas Business & Commerce Code §3.606(a)(2) and that such discharge is limited to the comaker’s partial right of recourse, thereby affirming the trial court judgment and reversing the Court of Appeals. Justice Ray concurred, agreeing with the result but noting that Lowry could have raised a separate accommodation‑party argument that was not timely presented.