Gaylord v. . McCoy
Supreme Court of North Carolina
Appeal by defendants from Br&gaw, J., at September Special Term, 1912, of BbuNswick:. This is an action to compel specific performance of the following option executed by the defendants, which was duly probated and was registered 6 July, 1909: “Know all men by these presents, that in consideration of the sum of four hundred dollars ($400) paid by George 0. Gay-lord, of Wilmington, State of North Carolina, to the undersigned parties, the receipt of which is hereby…
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Appeal by defendants from Br&gaw, J., at September Special Term, 1912, of BbuNswick:. This is an action to compel specific performance of the following option executed by the defendants, which was duly probated and was registered 6 July, 1909: “Know all men by these presents, that in consideration of the sum of four hundred dollars ($400) paid by George 0. Gay-lord, of Wilmington, State of North Carolina, to the undersigned parties, the receipt of which is hereby acknowledged, we, Mrs. M. E. McCoy, widow of the late L. C. McCoy, of Brunswick County, State.of North Carolina; C. L. McCoy and…
1Opinion of the CourtAlleN, J.
There are numerous exceptions in the record, which it is unnecessary to consider, as the rights of the parties can be determined upon facts not in dispute.
We have held in Winders v. Kenan, ante, 628:
1. That a contract like the one before us is an option, or offer to sell.
2. That being based on a valuable consideration, the makers did not have the right to withdraw the offer before the expiration of the time provided for, which in this case was 3 November, 1909.
3. That in order to constitute an acceptance of the offer in options like this, the optionee must not only indicate that he will…
2Cases cited4 opinions
- Hughes v. Knott.Supreme Court of North Carolina · 1905
- Land Co. v. SaundersSupreme Court of the United States · 1881
- Blalock v. Clark.Supreme Court of North Carolina · 1903
- Gaylord v. . McCoySupreme Court of North Carolina · 1912
3Cited by15 opinions
- First-Citizens Bank & Trust Co. v. FrazelleSupreme Court of North Carolina · 1946
- McAden v. . CraigSupreme Court of North Carolina · 1943
- McAden v. CraigSupreme Court of North Carolina · 1943
- Kottler v. MartinSupreme Court of North Carolina · 1955
- Wade v. . LutterlohSupreme Court of North Carolina · 1928
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