Commercial National Bank of Charlotte v. Charlotte Supply Co.
Supreme Court of North Carolina
Appeal by defendants from Hamilton, Special Judge, at Extra February Term, 1946, of Meciclenbubg. Tbe corporate executor of the will of Albert B. Clark brought this action to enforce a contract for the purchase of the stock of its testate in the defendant corporation, made by said corporation and individual stockholders.
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Appeal by defendants from Hamilton, Special Judge, at Extra February Term, 1946, of Meciclenbubg. Tbe corporate executor of the will of Albert B. Clark brought this action to enforce a contract for the purchase of the stock of its testate in the defendant corporation, made by said corporation and individual stockholders. The Supply Company and the individual defendant stockholders claim that the contract has been abrogated by a subsequent contract dealing with the subject matter, and that they are under no obligation to comply with plaintiff’s demands. The contract'was made under the…
1Opinion of the CourtSeawell, J.
We have two transactions to consider on appeal — the 1928 contract respecting the sale of Clark’s stock to the defendant corporation, still not fully performed, and the 1939 contract under which the corporation acquired a portion of the stock theretofore promised it. The appeal raises the question whether the 1928 contract was abrogated or merely modified by the subsequent agreement and incidental transfer of stock, and if modified, to what extent; and specifically whether the provisions of the 1928 contract respecting the purchase of the Clark stock and application thereto of the insurance…
2Cases cited19 opinions
- Old Colony Trust Co. v. City of OmahaSupreme Court of the United States · 1913
- Myers v. CarnahanWest Virginia Supreme Court · 1907
- Redding v. Vogt.Supreme Court of North Carolina · 1906
- Ducker v. . CochraneSupreme Court of North Carolina · 1885
- Edgerton v. TaylorSupreme Court of North Carolina · 1922
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3Cited by31 opinions
- Whittaker General Medical Corp. v. DanielSupreme Court of North Carolina · 1989
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- Silver Syndicate, Inc. v. Sunshine Mining Co.Idaho Supreme Court · 1979
- Wachovia Realty Investments v. Housing, Inc.Supreme Court of North Carolina · 1977
- Peaseley v. VIRGINIA IRON, COAL AND COKE COMPANYSupreme Court of North Carolina · 1973
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