Suntrust Bank v. Venable
791 S.E.2d 5 (2016)
Facts
D entered into a “Simple Interest Conditional Sale Contract with Options for Balloon Payment and Vehicle Return” (the “Contract”), when she purchased a minivan from Team Ford of Marietta. The dealership was granted a security interest in the purchased vehicle, which interest it assigned to P shortly after the Contract was executed. D stopped making payments in November 2007, D repossessed the minivan, sold it at auction for an amount less than the amount owed under the Contract, and filed suit against D on October 15, 2012, to recover the deficiency amount. D asserted that the deficiency action was barred by the four-year statute of limitation applicable to contracts for the sale of goods. The trial court granted P's motion for summary judgment. The Court of Appeals reversed, concluding that P's deficiency action was barred by OCGA § 11-2-725 (1)’s four-year period of limitation. P appealed.
Nature Of The Case
This section contains the nature of the case and procedural background.
Issues
The legal issues presented in this case will be displayed here.
Holding & Decision
The court's holding and decision will be displayed here.
Legal Analysis
Legal analysis from Dean's Law Dictionary will be displayed here.
© 2007-2025 ABN Study Partner