Stillwell Enterprises, Inc. v. Interstate Equipment Co.

EXUM, Justice.

The sole question presented by this appeal is whether a contract for the lease of specific goods may be deemed “evidence of indebtedness” within the meaning of G.S. 6-21.2. We hold that it may and reverse the decision of the Court of Appeals to the contrary.

The original plaintiff, Stillwell Enterprises, Inc., instituted this action against original defendant Interstate Equipment Co., on 22 July 1976, seeking damages alleged to have resulted when a pushloading road scraper leased by Equipment Co. to Stillwell broke in two. Defendant Equipment Co. filed answer denying liability to…