FARMERS BANK, ETC. v. Michael T. Brown Distributors

CARLTON, Justice.

I

Of the original defendants in this action, only Phillip H. Pell and O. M. Needham, Jr., are involved in this appeal.

R. W. Smith, vice-president of Farmers Bank in Pilot Mountain, N.C., was plaintiff’s sole witness and testified as follows:

Defendants, Needham and Pell, came to Smith’s office at the bank sometime before 15 February 1977. Defendants told Smith they were selling their interests in the company they helped manage, Ned-Pell Distributors, Inc., and asked Smith if the bank would continue to carry the line of credit it previously had extended to the company. It was…