Winders v. . Kenan
Supreme Court of North Carolina
Appeal from Garter, J., at August Term, 1912, of Duplin. This is an action to compel specific performance, based upon tbe following- instrument: This agreement, executed this 17 January, 1905, by and between J ames G. Kenan and heirs of O. R. Kenan,, of the county of Duplin and State of North Carolina, of the .first part, and J. B. "Winders and L. F. Hall of tbe second .part: Witnesseth, That said party of the first part, for and in consideration of the sum of $500 to him in…
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Appeal from Garter, J., at August Term, 1912, of Duplin. This is an action to compel specific performance, based upon tbe following- instrument: This agreement, executed this 17 January, 1905, by and between J ames G. Kenan and heirs of O. R. Kenan,, of the county of Duplin and State of North Carolina, of the .first part, and J. B. "Winders and L. F. Hall of tbe second .part: Witnesseth, That said party of the first part, for and in consideration of the sum of $500 to him in hand paid by the said party of the second part, the receipt whereof is hereby fully acknowledged, doth ag'ree that upon…
1Opinion of the CourtAlleN, J.
In bilateral contracts there are reciprocal promises, so that there is something to be don'e or forborne on both sides, while in a unilateral contract there is a promise on one side only, the consideration on the other side being executed. 9 Cyc., 244. An option belongs to the latter class. It is a contract to give another the right to buy, and not a contract to sell; and it is because of the fact that the other party is not compelled to buy, that it is spoken of as an offer.
In Black v. Maddox, 104 Ga., 157, approved in Trogden v. Williams, 144 N. C., 199, it is defined to be “the obligation…
2Cases cited13 opinions
- Black v. MaddoxSupreme Court of Georgia · 1898
- Kelsey v. CrowtherSupreme Court of the United States · 1896
- Bateman v. Kramer Lumber Co.Supreme Court of North Carolina · 1911
- Trogden v. . WilliamsSupreme Court of North Carolina · 1907
- Cummins v. BeaversSupreme Court of Virginia · 1904
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3Cited by40 opinions
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- Ward v. . AlbertsonSupreme Court of North Carolina · 1914
- Lagies v. MyersCourt of Appeals of North Carolina · 2001
- Thomason v. . BescherSupreme Court of North Carolina · 1918
- Wachovia Bank & Trust Co. v. United StatesCourt of Appeals for the Fourth Circuit · 1938
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