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STILLWELL ENTERPRISES v. INTERSTATE EQUIPMENT

No. 92.

266 S.E.2d 812 (1980)

STILLWELL ENTERPRISES, INC. v. INTERSTATE EQUIPMENT COMPANY, Original Defendant and Third-Party Plaintiff, v. The TRAVELERS INDEMNITY COMPANY and Robert D. Kelly, Third-Party Defendant.

Supreme Court of North Carolina.

June 3, 1980.

Attorney(s) appearing for the Case

Raymer, Lewis, Eisele & Patterson by Douglas G. Eisele, Statesville, for defendant-appellant and third-party plaintiff-appellant.

Smith, Currie & Hancock by Bert R. Oastler, Atlanta, Ga., for plaintiff-appellee.

Coward, Coward, Jones & Dillard by Roger L. Dillard, Jr., Sylva, for Robert D. Kelly, third-party defendant-appellee.

EXUM, Justice.

The sole question presented by this appeal is whether a contract for the lease of specific goods may be deemed "evidence of indebtedness" within the meaning of G.S. 6-21.2. We hold that it may and reverse the decision of the Court of Appeals to the contrary.

The original plaintiff, Stillwell Enterprises, Inc., instituted this action against original defendant Interstate Equipment Co., on 22 July 1976, seeking damages alleged to have resulted...

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