Craig v. . Price

Plaintiff bases his action upon the alleged breach of an agreement to delay the foreclosure of a deed of trust long in default.

There being no consideration for the promise to extend the time for foreclosure, it will not support a contract enforceable in law, or give ground for an action for damages for its breach. Cromartie v. Lumber Co., 173 N. C., 712; Jackson v. Bank, 203 N. C., 357.

A promise is not binding in law if founded solely on a consideration which the law holds insufficient to create a legal obligation. Hatchell v. Odom, 19 N. C., 302; Williams v. Chevrolet Co., 209 N. C., 29.

The…