REEVES v. HABERSHAM BANK

41688.

254 Ga. 615 (1985)

331 S.E.2d 589

REEVES et al. v. HABERSHAM BANK et al.

Supreme Court of Georgia.

Rehearing Denied July 24, 1985.


Attorney(s) appearing for the Case

M. Keith York, Smith & Harrington, Will Ed Smith, for appellants.

Alston & Bird, Jay D. Bennett, John E. Stephenson, Jr., Stephen D. Frankum, Phillip L. Hartley, for appellees.


BELL, Justice.

On December 5, 1977, Thomas Sexton purchased Reeves Brothers Hardware and Furniture Store (hereinafter, Reeves Hardware) in Clarkesville, Georgia from the appellants, the Reeves brothers, who are his in-laws. Mr. Sexton financed the purchase pursuant to a $200,000 note with the Habersham Bank. Sexton also entered into a security agreement with Habersham Bank, granting the bank a security interest in the assets of Reeves Hardware. The security agreement...

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