Fleet Real Estate Funding Corp. v. Blackwelder

WELLS, Judge.

The dispositive question in this appeal is whether the contract on which plaintiff seeks recovery is one of “guaranty” under seal coming within the ten-year statute of limitations, or is one of “suretyship” coming within the three-year statute of limitations. Plaintiff argues that the court erroneously held that N.C. Gen. Stat. § 1-52, the three-year statute, barred plaintiffs action. Plaintiff contends that N.C. Gen. Stat. § 1-47(2), the ten-year statute, applies because defendant entered a contract of guaranty under seal and that plaintiffs action is not barred under G.S.…