North Carolina National Bank v. Holshouser

MARTIN (Robert M.), Judge.

The only question before us in this appeal is whether plaintiff’s cause of action is barred by any statute of limitations. Plaintiff contends that, as the security instrument was executed under seal, G.S. 1-47(2) is the applicable statute and therefore this action would not be barred until after 28 September 1980. Defendant, however, insists that the four-year statute of limitations found in G.S. 25-2-725 is the applicable statute and that, as plaintiff’s action was begun more than four years after the cause of action accrued, the action is barred. There is no…