OLD STONE &c. v. NEW GA. PLUMBING

52595.

140 Ga. App. 686 (1976)

231 S.E.2d 785

OLD STONE MORTGAGE & REALTY TRUST et al. v. NEW GEORGIA PLUMBING, INC.

Court of Appeals of Georgia.

Decided October 20, 1976.

Rehearing Denied December 8, 1976.


Attorney(s) appearing for the Case

Westmoreland, Hall, McGee & Warner, John L. Westmoreland, Jr., P. Joseph McGee, Troutman, Sanders, Lockerman & Ashmore, John J. Dalton, for appellants.

Harland, Cashin, Chambers, Davis & Doster, Harry L. Cashin, Jr., Simuel F. Doster, Jr., J. D. Humphries, III, for appellee.


CLARK, Judge.

The principal question presented for decision in this appeal is whether plaintiff's materialman's lien is entitled to priority over the deeds to secure debt of certain lenders.

In November, 1971, Accent Development Corporation ("Owner") borrowed $270,000 from two of its stockholders, First American Investment Corporation and Fidelity Capital Corporation ("Seed Lenders"), to acquire nine acres of land in DeKalb County, Georgia. As security for...

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