WORREL v. FARMERS BANK OF STATE OF DEL.


430 A.2d 469 (1981)

Philip R. WORREL, Defendant Below, Appellant, v. FARMERS BANK OF the STATE OF DELAWARE, a Corporation of the State of Delaware, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided May 5, 1981.


Attorney(s) appearing for the Case

Louis B. Ferrara of Aerenson, Balick & Ferrara, Wilmington, for defendant below, appellant.

Edward T. Ciconte of D'Angelo & Ciconte, Wilmington, for plaintiff below, appellee.

Before DUFFY, QUILLEN and HORSEY, JJ.


HORSEY, Justice:

This appeal concerns the timeliness of a creditor's suit for a deficiency balance following debtor's breach of an installment sale security agreement and creditor's repossession and sale of the secured property. The question presented is whether the applicable statute runs: (1) from date of debtor's initial default as to an installment payment; (2) from date of creditor's exercise of its option to declare...

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