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Venable v. SunTrust Bank

In an issue of first impression in Georgia, the Court held that the 4-year statute of limitation under Article 2 of the Uniform Commercial Code was applicable to a cause of action based on a conditional sales contract that also created a security interest.

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SunTrust Bank SunTrust filed suit against Mattie Venable to recover a deficiency judgment almost five years after Venable defaulted on a conditional sales contract. Venable appeals from the trial court’s grant of summary judgment to SunTrust, contending, inter alia, that SunTrust’s suit is time barred. We agree and reverse because, pursuant to Article 2 of the Uniform Commercial Code, a four-year statute of limitation applies to causes of actions based on contracts where the primary purpose is the sale of goods.

Summary judgment is proper when there is no genuine issue of material fact and the movant is entitled to judgment as a matter of law. We review a trial court’s grant of summary judgment de novo, construing the evidence, and all reasonable conclusions and inferences drawn for it, in favor of the nonmovant.

 
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