FIRST CITIZENS BANK & TRUST COMPANY v. LARSON

No. 7412SC461.

206 S.E.2d 775 (1974)

22 N.C. App. 371

FIRST CITIZENS BANK & TRUST COMPANY v. Dr. John D. LARSON et al.

Court of Appeals of North Carolina.

July 17, 1974.


Attorney(s) appearing for the Case

Anderson, Nimocks & Broadfoot by Hal W. Broadfoot, Fayetteville, for plaintiff appellee.

Cameron, Harrington & Shaw by Orton J. Cameron, Sanford, for defendant appellant Larson.

McCoy, Weaver, Wiggins, Cleveland & Raper by Alfred E. Cleveland, Fayetteville, for defendant appellant Powell.


MORRIS, Judge.

Both appellants bring forward and argue exception No. 1—whether the trial court erred in concluding, as a matter of law, plaintiff had no duty to defendants to file the security agreement to protect the collateral for defendant endorsers and that the failure to file did not discharge the endorsers and they remained bound to plaintiff pursuant to their endorsements.

The transaction giving rise to this action occurred subsequent to the...

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