Scot B. Hutchins and John H. Gasper, Petitioners v. La Plata Mountain Resources, Incorporated, Respondent

Summary

The court held that Leadville's written and signed acknowledgments of its debts constituted new promises to pay, creating new accrual dates and extending the limitations period even though the documents did not satisfy the debentures' contractual requirements for modification. Because the acknowledgments were clear, unqualified, and not conditioned on successful modification, Hutchins and Gasper's claims were not time-barred. The court reversed the court of appeals and remanded for further proceedings. Justice Hood, joined by Justices Marquez and Gabriel, dissented, concluding that the failed amendments and the acknowledgments contained within them were void.