A promissory note is executed on the date it is signed, regardless of the date appearing on the face of the document, the North Carolina Court of Appeals has unanimously ruled in a case of first impression. The court ...

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Brungard v. Canestorp (Lawyers Weekly No. 012-171-17, 8 pp.) (Robert Hunter Jr., J.) Appealed from Craven County Superior Court (John Nobles Jr., J.) N.C. App. Unpub. Holding: The parties’ promissory note said the loan amount was due on Dec. 7, ...

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Emerald Portfolio, LLC v. Outerbanks/Kinnakeet Associates, LLC (Lawyers Weekly No. 011-301-16, 14 pp.) (Valerie Zachary, J.) Appealed from Dare County Superior Court (Cy Grant, J.) N.C. App. Holding: Where the lending bank lost a promissory note before assigning it to ...

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Odom v. Kelly (Lawyers Weekly No. 15-16-0785, 19 pp.) (Linda Stephens, J.) Appealed from Wake County Superior Court (Kendra Hill, J.) N.C. App. Unpub. Holding: Although a promissory note gives the borrower discretion as to when to make payments, the ...

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In re Foreclosure of Reed (Lawyers Weekly No. 14-16-0362, 10 pp.) (Rick Elmore, J.) Appealed from Catawba County Superior Court (Timothy Kincaid, J.) N.C. App. Unpub. Holding: Even though the copy of respondents’ promissory note that the bank attached to ...

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Brown v. Cavit Sciences, Inc. Even though the basis for plaintiff’s claims against defendants was a $100,000 promissory note, the complaint’s allegations of breach of contract, breach of guaranty, fraudulent concealment, and unfair and deceptive trade practices, among others, support the trial court’s default judgment of $1,906,000. Therefore, the judgment is not irregular and is not subject to being set aside under N.C. R. Civ. P. 60(b).

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In re Foreclosure of Deed of Trust from Perry Where petitioner maintained possession of respondent’s original promissory note , and where the note was endorsed from the original lender to the order of petitioner, petitioner was the holder of the promissory note and entitled to enforce the instrument and seek foreclosure pursuant to G.S. § 45-21.16.

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JEMM, LLC v. Crawford Where a party seeking appeal fails to provide notice of the appeal to every party in the case, in violation of Rule 3 of the N.C. Rules of Appellate Procedure, the appeal is dismissed for lack of jurisdiction.

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PTM Technologies, Inc. v. Carolina Bank Although the debtor did not receive any direct benefit when it guaranteed a promissory note for its sister company, the loan was used to buy an aircraft that was arguably used to promote the income stream that benefitted all related companies, including the debtor.

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Synovus Bank v. Schaur Even though an N.C. state court found that it had personal jurisdiction over the Michigan defendant, that action was voluntarily dismissed without prejudice; therefore, the court’s finding does not have collateral estoppel effect.

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