Henderson Mill Ltd. v. McConnell

Hall, Justice.

The central issue presented on this land purchase case concerns the interpretation of an agreement under which the sellers, McConnell and Armistead, were to grant quitclaim deeds to buyer, Henderson Mill Limited, of portions of the subject land as certain portions of the purchase price were paid. Basically, the purchase price consisted of a down payment to be made at the time of closing, and a further amount secured by two deeds to secure debt on the property. The contractual provision here in issue was a "special stipulation” to the deed to secure debt, and reads as follows:

"Gra…