Mason v. . Hearne
Supreme Court of North Carolina
Cause removed from the Court of Equity of Stanly county, at Fall Term, 1852. The plaintiff by her bill, filed 11th February, 1851, alleges that several years since, her father, John Mason, now deceased, contracted with one Henry Davis for the purchase of a small tract of land, at the price of fifty dollars.
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Cause removed from the Court of Equity of Stanly county, at Fall Term, 1852. The plaintiff by her bill, filed 11th February, 1851, alleges that several years since, her father, John Mason, now deceased, contracted with one Henry Davis for the purchase of a small tract of land, at the price of fifty dollars. That her father, in his lifetime, paid Davis a part of the said purchase money, to wit, $20 ; and finding himself unable to pay the balance, transferred his claim to the plaintiff, who states that she then made an arrangement with the defendant, by which it was agreed that he should pay to…
1Opinion of the CourtPearson, J.
The plaintiff is entitled to the relief she asks for. The agreement in writing, signed by the defendant, shows upon its face that the real intention of the parties in the transaction was to create merely a security ; and for this purpose the legal title was conveyed to the defendant, in trust to secure the repayment of the thirty dollars, with interest, and then in trust to convey to the plaintiff. Such being the intention of the parties, time is not of the essence of the contract in this Court,- which is the principle upon which the Court allows an equity of redemption, after the estate at…
2Cited by10 opinions
- Perry v. Southern Surety Co.Supreme Court of North Carolina · 1925
- O'Briant v. . LeeSupreme Court of North Carolina · 1939
- Watkins v. . WilliamsSupreme Court of North Carolina · 1898
- Bunn v. BraswellSupreme Court of North Carolina · 1905
- Porter v. White.Supreme Court of North Carolina · 1901
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