Fulton v. . Loftis
Supreme Court of North Carolina
Bill, set dowu for hearing upon pleadings and proofs, at Spring Term 1868 of the Court of Equity for BuNCOMBE, and by consent transferred to this Court.
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Bill, set dowu for hearing upon pleadings and proofs, at Spring Term 1868 of the Court of Equity for BuNCOMBE, and by consent transferred to this Court. The plaintiff alleged, that in 1859, he contracted to sell a tract of land to the defendant, at the price of $412.50, for which he took two notes of the defendant, payable in one and two years, and executed a bond to make title when the purchase money was paid, and that the defendant was put into-possession; that afterwards, in 1865, the defendant, on the-pretence of calculating the interest, induced the plaintiff to let him take the notes…
1Opinion of the Court
PearsoN, C. J,
The plaintiff has misconceived his remedy. When a contract is obtained by fraud or duress, a Court of Equity will entertain a bill for its rescission; but the plaintiff must allege that he was induced to enter into the contract, by reason of such fraud or duress. A bill for rescission on the ground of fraud or duress prepetrated after the contract is made, is one of the first impression, and there is no principle upon which it can be maintained. The question is too plain to allow of discussion: Addington v. McDonnell, at this term.
The plaintiff having the legal title, may take…
2Cited by1 opinion
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