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BARNABY v. BOARDMAN

No. 559PA84.

330 S.E.2d 600 (1985)

313 N.C. 565

Neil BARNABY and Marina Village, Inc. v. Elbridge H. BOARDMAN and wife, Ruth R. Boardman and O.L. Graham, Trustee.

Supreme Court of North Carolina.

June 4, 1985.

Attorney(s) appearing for the Case

Kenneth M. Kirkman, P.A. by John E. Way, Jr., Morehead City, for plaintiffs-appellants.

Sumrell, Sugg & Carmichael by Fred M. Carmichael and Rudolph A. Ashton, III, New Bern, for defendants-appellees.

MITCHELL, Justice.

This case presents questions concerning the proper interpretation of the anti-deficiency statute, N.C.G.S. 45-21.38.1 The controlling question on appeal is whether the holder of a promissory note given by a buyer to a seller for the purchase of land and secured by a deed of trust embracing such land may release his security and then sue on the note. We conclude that any such...

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