Charles Vernon Floyd, Jr. and Sons, Inc.; Mary Ann Floyd, Individually; and Mary Ann Floyd, executrix of the Estate of Charles Vernon Floyd, Jr. v. Cape Fear Farm Credit, ACA

Wrongful Death - Unfair or Deceptive Practices - Breach of Contract - In December of 1991, the Floyds defaulted on the Farm Credit loan. In March of 1992, Farm Credit sent a letter to the Floyds announcing its intention to foreclose on their farm and personal residence if the total indebtedness was not paid in full within five days. After an attempt to pay their arrearages failed, the Floyds received a "notice of Sale" informing them that their property was to be sold on 16 June 1992. The Floyds met with an agent of Farm Credit on 3 June 1992 and negotiated a forbearance agreement whereby, in exchange for additional security, Farm Credit would postpone publication of the newspaper advertisements of the notice of sale. However, despite this agreement, a single advertisement of the foreclosure sale of the Floyd home appeared in The Robesonian on 5 June 1992. Following this turn of events, on 13 June 1992, Charles Vernon Floyd, Jr. committed suicide. Subsequently, Mary Ann Floyd and her son, James Leroy Floyd, initiated this action against defendant, Farm Cridt on 12 October 1992. The complaint asserted several causes of action agaisnt defendant including wrongful death, intentional and negligent infliction of emotional distress, loss of consortium, unfair or decptive practices, breach of the duty of good faith and breach of contract.

Defendant's verdict.

Unknown

Unknown

Reversed and remanded by the Supreme Court of North Carolina. See: 510 S.E.2d 156 (N.C. 1999). The above date reflects the appellate court date, not the original trial date. Reported by kkm.