Streator v. . Jones
Supreme Court of North Carolina
IN EQUITY. ~i C From Wake. . J The hill stated, that in the year 1799 the defendant advanced to the complainant on loan, the sum of % 800; and that to secure the repayment threof, with twenty-five per cent, interest, on or before the expiration of that year, he executed to the defendant a deed in fee simple for divers tracts of land; that it was agreed between the parties that the lands should be redeemable on repayment of the sum borrowed, with twenty-five per cent,…
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IN EQUITY. ~i C From Wake. . J The hill stated, that in the year 1799 the defendant advanced to the complainant on loan, the sum of % 800; and that to secure the repayment threof, with twenty-five per cent, interest, on or before the expiration of that year, he executed to the defendant a deed in fee simple for divers tracts of land; that it was agreed between the parties that the lands should be redeemable on repayment of the sum borrowed, with twenty-five per cent, thereon, a,f the expiration of the then current year; that upon cont-plainant’s urging upon Jones tb at some writing expressive…
1Opinion of the CourtHall, Judge
The bill charges, that the money received from the defendant, Jones, was a loan and not the price of the land, and that the land was to be mortgaged as a security for the debt; that when complainant was about to execute the deed he expressed a wish that a clause of redemption should be inserted in it, but that the defendant objected, and said, “here, take the money you want and trust to my word;” and that the defendant refuses to either receive the money, or reconvey the land.
From this statement, the justice of the case seems to be with the complainant, and relief ought to be granted, unless…
2Cases cited1 opinion
- Dunham v. BakerSupreme Court of Connecticut · 1805
3Cited by15 opinions
- O'Briant v. . LeeSupreme Court of North Carolina · 1939
- Porter v. White.Supreme Court of North Carolina · 1901
- Newton v. . ClarkSupreme Court of North Carolina · 1917
- Williamson v. RabonSupreme Court of North Carolina · 1919
- Williamson v. . RabonSupreme Court of North Carolina · 1919
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