2 S.E.2d 6 | N.C. | 1939
the record it is stipulated that the only question involved on this appeal is whether the action is barred by the statute of limitation pleaded, chapter 529, Public Laws 1933; and the answer to the question is dependent upon what is meant by the words "within one year from the date of sale under such foreclosure."
It is the contention of the defendant that the aforesaid words mean within one year from the date the property was exposed for sale at public auction, and that since this exposure was made on 22 August, 1936, and this action was commenced on 28 August, 1937, six days more than one year from the first date, the action is barred by the statute pleaded. It is the contention of the plaintiff that the words mean within one year from the consummation of the foreclosure sale, and that such consummation could not take place until at least ten days after the exposure for sale at public auction. We concur with the contention of the plaintiff.
By becoming the last and highest bidder at the foreclosure sale on 22 August, 1936, the plaintiff became but a proposed purchaser or preferred *402
bidder during the ten days allowed by statute for an increase in the bid.Davis v. Insurance Co.,
We are of the opinion, and so hold, that the ruling of the Superior Court was correct and the judgment thereof is
Affirmed.