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FLEET REAL ESTATE FUNDING CORP. v. BLACKWELDER

No. 8626SC123.

348 S.E.2d 611 (1986)

FLEET REAL ESTATE FUNDING CORPORATION v. John N. BLACKWELDER and Norris M. Blackwelder.

Court of Appeals of North Carolina.

October 7, 1986.

Attorney(s) appearing for the Case

Moore, Van Allen, Allen & Thigpen by Daniel G. Clodfelter, James C. Smith and Charles E. Johnson, Charlotte, for plaintiff-appellant.

Parker, Poe, Thompson, Bernstein, Gage & Preston by Gaston H. Gage and Debra L. Foster, Charlotte, for defendant-appellee John N. Blackwelder.

WELLS, Judge.

The dispositive question in this appeal is whether the contract on which plaintiff seeks recovery is one of "guaranty" under seal coming within the ten year statute of limitations, or is one of "suretyship" coming within the three year statute of limitations. Plaintiff argues that the court erroneously held that N.C.Gen.Stat. § 1-52, the three-year statute, barred plaintiff's action. Plaintiff contends that N.C.Gen.Stat. § 1-47(2), the ten...

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