Mike- Folley may be derived from the Follett surname. I have been researching the Folletts for several years now and have found many different ways of spelling it and pronouncing it. Here in the U.S.A. it is said Faw-let. A man from Scotland told me they pronounce it Foh-lay, with a long 'o' sound and the t silent. You might want to look into Henry or Thomas Folliot(t). They were lords during the 1600s in Ballyshannon, Ireland. I hope this will be of some help. Good luck.