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Contract – Negotiable Instruments – Banks & Banking – Civil Practice – Pleadings – Promissory Note Holder
North Carolina Lawyers Weekly Staff//November 6, 2013//
Contract – Negotiable Instruments – Banks & Banking – Civil Practice – Pleadings – Promissory Note Holder
North Carolina Lawyers Weekly Staff//November 6, 2013//
First Federal Bank v. Aldridge (Lawyers Weekly No. 13-07-1061, 11 pp.) (Robert N. Hunter Jr., J.) Appealed from Brunswick County District Court (Marion R. Warren, J.) N.C. App.
Holding: Plaintiff First Federal Bank sued to collect on two promissory notes; however, both notes are payable to “Cape Fear Bank,” and plaintiff did not allege in its complaint that it was the payee on the notes or that it acquired the right to enforce the notes. Plaintiff failed to allege facts to indicate that it had the right to enforce the notes.
We affirm the trial court’s dismissal of plaintiff’s complaint with prejudice.
When the plaintiff completely fails to make any effort to amend its complaint, take a voluntary dismissal, or move that the complaint be dismissed without prejudice, the trial court does not abuse its discretion in dismissing the complaint with prejudice.
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