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GMAC v. NEWTON

A94A0455.

213 Ga. App. 405 (1994)

444 S.E.2d 805

GENERAL MOTORS ACCEPTANCE CORPORATION v. NEWTON et al.

Court of Appeals of Georgia.

Reconsideration Denied June 1, 1994.

Attorney(s) appearing for the Case

McCullough & Payne, John G. McCullough, Michael D. Payne, for appellant.

Phears & Moldovan, H. Wayne Phears, Darrin R. Schutt, for appellees.

JOHNSON, Judge.

Herb Newton owned and operated Freeway Buick-GMC Truck, Inc., formerly Freeway Buick, Inc., a motor vehicle dealership. General Motors Acceptance Corporation (GMAC) made two separate loans to Freeway Buick, Inc., one for the acquisition of business assets and the other for the acquisition of motor vehicle inventory. Freeway Buick, Inc., executed separate promissory notes and security agreements for each loan. Newton and his wife, Beverly Newton, personally...

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