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THOMPSON v. PILOT LIFE INS. CO.

No. 234.

67 S.E.2d 444 (1951)

234 N.C. 434

THOMPSON et al. v. PILOT LIFE INS. CO. et al.

Supreme Court of North Carolina.

November 7, 1951.

Attorney(s) appearing for the Case

James N. Smith, Goldsboro, for plaintiffs-appellants.

Charles P. Gaylor and J. Faison Thomson, Goldsboro, for defendant-appellee.

VALENTINE, Justice.

This is not an action to recover from the estate of J. H. Gardner a balance due upon the indebtedness secured by the deed of trust, but is an action to establish the rights of the parties with respect to the proceeds of a life insurance policy assigned by J. H. Gardner to B. G. Thompson as security for the debt. Therefore, the statutory principle of law regulating the recovery of deficiency judgments, G.S. § 45-21.36, has no application here...

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