Hudson v. Cozart

179 N.C. 247
Supreme Court of North Carolina·Decided March 3, 1920·Published·Cited by 11 cases

Opinion

Hoke, J.

On the trial it appeared that the five defendants named, owning a lot in the city of Wilson, on 31 January, 1916, entered into a written agreement, under seal, conferring on the plaintiff an option to buy the designated parcel of land, the portions of the agreement more directly relevant to the inquiry being as follows:

“And the said parties of the first part, plaintiffs, hereby contract and agree to execute and deliver to the said party of the second part, his heirs and assigns, at or upon his request, on the 15th day of March, 1916, a good and sufficient deed for the said tracts of parcels of land described above, with full covenants and warranty: Provided, and upon condition, nevertheless, that the said party of the second part shall well and truly pay to the parties of the first part, their heirs and assigns,- in cash, the sum of five thousand dollars on the said day of March, 1916, in good and lawful money, and being in full payment as the entire purchase money for aforesaid described lots or parcels of land, together with all appurtenances now situate on same.
“It is understood and agreed by the parties to these presents, that said sale is to be made at the option of the said party of the second part, and to be exercised on or before the 15th day of March, 1916, and it is further agreed that in case the said party of the second part does not demand of the parties of the first part, the deeds herein provided for as herein agreed and tender payment as set forth 'above, that on the 15th day of March, 1916, this agreement shall be null and void, and the parties of the first part, their heirs and assigns, shall be at liberty to dispose of the said lots or parcels of land in such a manner as if this contract had never been made, and neither the parties of the first part nor the party of the second part shall have any claim whatsoever on the other in either law or equity.
“It is also further agreed by the party of the second part, that he will erect upon the property described above a redrying plant, said plant to be erected by the opening of the tobacco market in the fall of 1916, and at the time of delivering said deed or deeds, should this option of purchase be exercised by the party of the second part, upon request of the parties of the first part, the party of the said part shall make such assurances in good faith that may be acbepted by the parties of the first part as to the erection of the aforesaid redrying plant, that the deed or deeds may be properly delivered to the party of the second part, and the failure [250] on tbe part of tbe party of tbe second part to mate unto tbe parties of tbe first part tbe assurances, as be reasonably required by tbem as to-tbe use of tbe aforesaid lots or parcels of land, will render tbis agreement null and void, neither party having any recourse at law or equity.”

Tbe plaintiff, a witness in bis own behalf, testified further on tbe issues: “That, on March 14th, one day before tbe last day of tbe option, I got a notary public, saw Mr. U. H. Oozart, one of tbe defendants, on tbe street, and told him I was ready to sign tbe deed; told him I bad tbe money ready in tbe First National Bank. He said, wait and I will see Anderson, and refused to sign tbe deed. I met tbem, Anderson and Oozart, and they were talking. They were standing in front of the First National Bank, in which I bad the money. Anderson said be was-not going to sign the deed. Mr. Oozart went into tbe bank and saw Ool. Bruton, I suppose, and refused to sign. I was ready, able, and willing to pay the money, and still am.”

On tbis, tbe only oral evidence offered, tbe action having been dismissed as to Eagles and Oarr, tbe jury rendered a verdict, as stated, against tbe defendants, Oozart and Anderson, and the court gave judgment that these defendants convey their interests on payment of their proportion of tbe purchase price, subject to abatement for their wives* interest in the property, and a similar judgment was entered against the defendant Smith, who had failed to answer, or in any way resist the recovery sought.

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Hudson v. Cozart, 179 N.C. 247 (N.C. 1920).

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