Arithmetic Overflow vs. Arithmetic Carry

One of my lecture slides gives an example of arithmetic overflow and carry in a topic for conditional branching flags on an ARM chip, quoted below:

• V (overflow) -  7FFFFFFF+1
• C (carry) -  FFFFFFFF+1

Presumably for the sake of the example, the address can only hold 8 bytes. So to me, it seems likes adding 1 to 7FFFFFFF gives 80000000. I thought 80000000 would still fit into an 8-byte address.

Why is this an arithmetic overflow? Is it the wrong way around on the slide? Or is my understanding flawed?

Thanks for any responses

• Overflow flags get set when the register cannot properly represent the result as a signed value (you overflowed into the sign bit).
• Carry flags are set when the register cannot properly represent the result as an unsigned value (no sign bit required).