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NC General Statutes

N.C. Gen. Stat. § 22-4 (2026)

Promise to revive debt of bankrupt

✓ current as of July 2026
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No promise to pay a debt discharged by any decree of a court of competent jurisdiction, in any proceeding in bankruptcy, shall be received in evidence unless such promise is in writing and signed by the party to be charged therewith. (1899, c. 57; Rev., s. 978; C.S., s. 990.)

 

§ 22-5.  Commercial loan commitments.

No commercial loan commitment by a bank, savings and loan association, or credit union for a loan in excess of fifty thousand dollars ($50,000) shall be binding unless the commitment is in writing and signed by the party to be bound.  As used in this section, the term "commercial loan commitment" means an offer, agreement, commitment, or contract to extend credit primarily for business or commercial purposes and does not include charge or credit card accounts, personal lines of credit, overdrafts, or any other consumer account.  Offers, agreements, commitments, or contracts to extend credit primarily for aquaculture, agricultural, or farming purposes are specifically exempted from the provisions of this section. (1989, c. 678.)

Notes of Decisions
Cited in 1 case, 1984–1984 · leading case: Am. Clipper Corp. v. Howerton, 316 S.E.2d 186 (N.C. 1984).
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Am. Clipper Corp. v. Howerton, 316 S.E.2d 186 (N.C. 1984). “Summers, Uniform Commercial Code § 22-4 at 887 (2d ed. 1980). We find that Clipper intended the consignment as security and therefore cannot prevail over Finance since it took no action to protect its security interest under Article 9.”
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