Branch Banking & Trust Co. v. Peacock Farm, Inc. (Lawyers Weekly No. 15-07-0542, 22 pp.) (Mark Davis, J.) (John Tyson, J., dissenting) Appealed from Moore County Superior Court (Anderson Cromer, J.) N.C. App. Holding: The trial court could not certify ...

Tagged with: Guaranty

CommunityOne Bank, N.A. v. Boone Station Partners, LLC (Lawyers Weekly No. 15-16-0517, 8 pp.) (Martha Geer, J.) Appealed from, New Hanover County Superior Court (Phyllis Gorham, J.) N.C. App. Unpub. Holding: Even if the plaintiff-bank’s claims against the defendant-borrower and ...

Tagged with: Guaranty interlocutory

Sollis v. Holman After obtaining a Texas judgment against a no-asset Texas corporation, plaintiff cannot bring a North Carolina action to pierce the corporate veil in order to enforce the judgment against the Texas corporation’s owner, a Texas resident. We affirm summary judgment for defendant.

Tagged with: Civil Practice Consideration Corporate Guaranty Judgments personal jurisdiction

Epes v. B.E. Waterhouse, LLC Where both the lease assignment and plaintiff’s guaranty reflect that the assignment would not release plaintiff from liability as guarantor, the trial court correctly granted summary judgment to the defendant-landlords on plaintiff’s request for a declaratory judgment that plaintiff “has no ongoing duties, obligations, or liability of any type to defendants under any agreement or under applicable law.”

Tagged with: Assignment Bankruptcy Commercial Lease Contract Default Guaranty Landlord/Tenant

Bank of the Carolinas v. Burkett Even though defendant guaranteed only $100,000 of the borrower’s $678,776 loan, and even though the borrower paid more than $100,000 of its balance before it defaulted, since the borrower still owes more than $100,000, defendant is still liable under his guaranty.

Tagged with: Contract Guaranty

Procar II, Inc. v. Dennis Even though plaintiff continued to extend credit to Southeastern Material, Inc. after defendants agreed to personally guarantee Southeastern’s $611,500 debt, since the guaranty makes no mention of any future obligations - it refers only to the debt “due to and owing” - the guaranty did not apply to future extensions of credit. The guaranty was not supported by adequate consideration and is therefore unenforceable between the parties.

Tagged with: Contract Corporate Guaranty

Klingstubbins Southeast, Inc. v. 301 Hillsborough Street Partners, LLC Letters from an LLC member to its creditor promised to pay the LLC’s debt. Combined with the creditor’s forbearance to sue, the letters allow the creditor’s claim of a guaranty to survive the LLC member’s motion to dismiss. We reverse the trial court’s grant of defendant Reynolds’ motion to dismiss.

Tagged with: Consideration Contract Guaranty