Kane Plaza Associates v. Chadwick

JOHN, Judge.

Plaintiff Kane Plaza Associates (Kane Plaza) appeals the trial court’s 2 August 1993 order pursuant to N.C.R. Civ. P. 12(b)(6) dismissing Kane Plaza’s cause of action demanding payment on a promissory note. We reverse the trial court.

Pertinent allegations of Kane Plaza and procedural history are as follows: On or about 1 December 1988, defendants executed a $40,000 promissory note (the note) payable to J. M. Kane & Co. (J. M. Kane) or order. The note recited “assumption of lease by maker,” referring to a lease [the original lease] on premises in Pitt County, North Carolina, as a…