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REGIONAL ACCEPTANCE CORP. v. OLD REPUBLIC SUR. CO.

No. COA02-555.

577 S.E.2d 391 (2003)

REGIONAL ACCEPTANCE CORPORATION, Plaintiff, v. OLD REPUBLIC SURETY COMPANY, International Business & Mercantile Reassurance Company and Forsyth Auto Brokers, Inc., Defendants.

Court of Appeals of North Carolina.

March 18, 2003.

Attorney(s) appearing for the Case

Brooks, Pierce, McLendon, Humphrey & Leonard, L.L.P., by Derek J. Allen, Greensboro, for plaintiff.

Moore & Van Allen, PLLC, by Kevin M. Capalbo, Durham, for defendant.

TYSON, Judge.

Defendant International Business & Mercantile Reassurance Company ("International") appeals from the granting of summary judgment in favor of Regional Acceptance Corporation ("Regional") in the amount of $19,297.00 plus interest. We affirm.

I. Background

On 16 September 1993, International issued a surety bond to Forsyth Auto Brokers, Inc. ("Forsyth") pursuant to N.C. Gen.Stat...

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