SunTrust Bank v. Venable

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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We issued a writ of certiorari in this appeal which arises out of a deficiency action brought by appellant SunTrust Bank SunTrust as the assignee under a motor vehicle conditional sales contract following its repossession and sale of a motor vehicle purchased by appellee Mattie Venable. The issue to be decided is whether the four year statute of limitation set forth in OCGA § 11-2-725 1 applicable to actions on contracts for the sale of goods or the six year statute of limitation generally applicable to actions on simple written contracts applies to the deficiency action filed by SunTrust. See OCGA § 9-3-24. We conclude that the action is subject to the four year statute of limitation found in § 11-2-725 1.

This appeal comes before us from the Court of Appeals’ reversal of the grant of summary judgment in favor of SunTrust on its deficiency claim. See Venable v. SunTrust Bank, 335 Ga. App. 344 780 SE2d 793 2015. On appeal from the grant of summary judgment this Court conducts a de novo review of the evidence to determine whether there is a genuine issue of material fact and whether the undisputed facts, viewed in the light most favorable to the nonmoving party, warrant judgment as a matter of law. Citation and punctuation omitted. Giles v. Swimmer, 290 Ga. 650 1 725 SE2d 220 2012. See OCGA § 9 11 56 c.

SunTrust Bank v. Venable

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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