Szabo Food Service, Inc. v. Balentine's, Inc.

HEDRICK, Judge.

The key inquiry in the instant case is. the determination of the nature of the 14 August 1969 agreement which exists between Szabo and Balentine’s. Upon resolution of this matter, reference must then be made to N. C. G.S. 105-804 (a) and G.S. 105-306 (c) (2), the 1972 amended version of G.S. 105-304 (a), *656which controls the effect that this legal arrangement has on who must list the personal property for ad valorem tax purposes.

Initially, it is imperative that we recognize that just because the parties clothe their agreement in lease terminology or label the arrangement a…