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PREFERRED SAVINGS & LOAN ASSOCIATION, INC. v. ROYAL GARDEN RESORT, INC.

23114

301 S.C. 1 (1990)

389 S.E.2d 853

PREFERRED SAVINGS AND LOAN ASSOCIATION, INC., Respondent v. ROYAL GARDEN RESORT, INC., Royal Garden Regime Homeowners Association, a/k/a Royal Garden Resort Condominium Homeowners Association, Inc., Cianbro Corporation; Carolina Furniture Sales, Commercial Communications, Inc., General Electric Company; George S. Hirsch, Ward Hulbert, as Trustee for Hulbert, Inc., Profit-Sharing Trust, and Hulbert, Inc. Pension Plan, Kenneth R. Sanders, Robert H. Quattlebaum, Shirley Treadway, d/b/a S. & M. Lawn Services, Darlene M. Appel, Keith K. Appel, Patricia T. Burk, William J. Burk, Rebecca S. Heward, Whitfield M. Howard, Daniel B. Jordan, Marian M. Jordan, Etta M. Near, Jerome A. Near, Phyllis A. Stickney, Roland F. Stickney, Diana V. Stone, Gregory G. Stone, William H. Cooper, Jesse C. Atehley, Ralph Tom White, II, individually and as General Partners of Pintail Properties, a North Carolina General Partnership; and Robert Fester, of whom Cianbro Corporation is Petitioner.

Supreme Court of South Carolina.

Decided February 20, 1990.

Attorney(s) appearing for the Case

Otis Allen Jeffcoat, III, and G. Michael Smith, Jeffcoat & Martin, Myrtle Beach, for petitioner.

W. Haigh Porter, David Michael Ballenger, and Mary Layton Wells, Florence, for respondent.

Heard April 17, 1989.

Decided Feb. 20, 1990.

CHANDLER, Justice:

In this action between a construction lender (Preferred Savings) and a general contractor (Cianbro), the Court of Appeals held that Cianbro's mechanic's lien was invalid for failure to timely commence suit to foreclose. Preferred Sav. & Loan Ass'n v. Royal Garden Resort, Inc., 295 S.C. 268,

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