1. Home
  2. Browse Decisions
  3. S.E.2d
  4. 263 S.E.2d
  5. 263 S.E.2d 319 (1980)
 

SPECTOR UNITED EMP. CREDIT UNION v. SMITH

No. 7921SC547.

263 S.E.2d 319 (1980)

SPECTOR UNITED EMPLOYEES CREDIT UNION, formerly Hennis Credit Union v. William Michael SMITH and Herbert Ray.

Court of Appeals of North Carolina.

March 4, 1980.

Attorney(s) appearing for the Case

Womble, Carlyle, Sandridge & Rice by Francis C. Clark and W. P. Sandridge, Jr., Winston Salem, for plaintiff-appellee.

John S. Curry, Carrboro, for defendant-appellant.

WELLS, Judge.

This case presents the problem of interpreting the term "future advance" as it is used in Section 9-307(3) of the North Carolina Uniform Commercial Code. The term is nowhere defined in the Code. G.S. 25-9-307(3) provides:

A buyer other than a buyer in ordinary course of business (subsection (1) of this section) takes free of a security interest to the extent that it secures future advances made after the secured party acquires knowledge of the...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases