McArdle Corp. v. Patterson

LEWIS, Judge.

Plaintiff commenced this action to recover a deficiency judgment against defendants resulting from the foreclosure sale of property, which had been security for a promissory note guaranteed by defendants. After a bench trial, judgment was for the plaintiff, and defendants appeal.

The action was originally begun by plaintiffs predecessor in interest, First Federal Savings and Loan Association of Raleigh (hereinafter “First Federal”), in September 1990 before Judge George Greene. The action arose from defendants’ guaranty of payment of a promissory note given by G.A.D. Development…