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WATERHOUSE v. CAROLINA LIMOUSINE MFG.

No. 8930SC35.

384 S.E.2d 293 (1989)

Ray WATERHOUSE, Plaintiff, v. CAROLINA LIMOUSINE MANUFACTURING, INC., d/b/a Carolina Coachbuilders, Defendant, v. SOUTHWESTERN NORTH CAROLINA PLANNING AND ECONOMIC DEVELOPMENT COMMISSION and Scronce Automotive Supply, Inc., Intervenors.

Court of Appeals of North Carolina.

October 17, 1989.

Attorney(s) appearing for the Case

Stephen L. Barden, III, Asheville, for plaintiff-appellant.

Philo and Spivey by Samuel C. Briegel, Steven E. Philo and David C. Spivey, Franklin, for intervenors-appellees.

EAGLES, Judge.

Waterhouse excepted to the trial court's conclusions regarding Southwestern's good faith effort to file and Southwestern's priority. Because of Southwestern's failure to file the financing statement with the Secretary of State, Southwestern's security interest in Carolina's equipment was not perfected by filing. Both parties agree that Southwestern's interest was perfected, if at all, by possession, which occurred on 4 December 1987. Therefore, the...

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