McNeely v. . Carter
Supreme Court of North Carolina
This was an action of assumpsit for money had and received for amount overpaid in the purchase of a lot of cotton. The defendant pleaded the general issue, and the only question in the case arose upon the construction of the following agreement, to wit: “A. G. Carter agrees to sell his crop of cotton to Thomas McNeely, and to deliver the same picked and unpacked at McNeely’s factory; and McNeely agrees to pay Carter one thousand dollars down, and the balance in three, six…
Read the full summary
This was an action of assumpsit for money had and received for amount overpaid in the purchase of a lot of cotton. The defendant pleaded the general issue, and the only question in the case arose upon the construction of the following agreement, to wit: “A. G. Carter agrees to sell his crop of cotton to Thomas McNeely, and to deliver the same picked and unpacked at McNeely’s factory; and McNeely agrees to pay Carter one thousand dollars down, and the balance in three, six and nine months, equal payments, with interest from the time the cotton shall be delivered. The price .of the cotton to be…
1Opinion of the Court
Gaston, Judge.
It must be admitted that the contract to be expounded has not been expressed in very perspicuous language, nor can we be sure that any exposition which may be given of it will be free from error. But in our judgment, the meaning assigned to it in the court below is not the correct one, c'
According to that interpretation, the contract substantially is to allow the highest price which cotton may bear at either of the three named markets on any day between the execution of the contract and the first of June therealter. Now an obvious — and very strong — objection to this…
2Cited by1 opinion
- Spencer v. TreanorIndiana Court of Appeals · 1922