Deep South Services, Inc. v. Wade

McMurray, Presiding Judge.

The Supreme Court, in Deep South Services v. Wade, 248 Ga. 80, reversed our judgment in Deep South Services v. Wade, 158 Ga. App. 158 (279 SE2d 340), affirming the trial court in its grant of summary judgment in favor of the plaintiff against the defendants. In that case the Supreme Court has clarified the law as set forth in the UCC § 3-408 (Code Ann. § 109A-3 — 408; Ga. L. 1962, pp. 156, 260) holding therein that while consideration is not necessary for an instrument given in payment of or as security for an antecedent obligation *66nevertheless where there is a…