Court of Appeals of North Carolina
200 S.E.2d 410 (1973)
In May 1972, the Mezzanottes (plaintiffs) and Freelands (defendants) entered into an agreement for the Freelands to sell real property to the Mezzanottes. The agreement provided that the sale was contingent on the Mezzanottes obtaining a “second mortgage from North Carolina National Bank on such terms and conditions as are satisfactory to them ….” The Mezzanottes failed to secure the loan from North Carolina National Bank but obtained funding through alternative sources. In September, they delivered to the Freelands a $200,000 down payment as well as a note and deed of trust for the balance of the purchase price. The Freelands refused to sell, however, and the Mezzanottes brought suit for specific performance of the sale and for damages for breach of contract. In defense, the Freelands contended that the May contract was unenforceable for lack of consideration because the Mezzanottes’ receipt of funding was conditioned on the loan being “satisfactory to them.” The Freelands argued that such condition made the Mezzanottes’ promise illusory. The trial court disagreed, concluding that the agreement was valid and that the Mezzanottes’ tender of payment constituted substantial compliance with the contract. The Freelands appealed.
Rule of Law
Holding and Reasoning (Baley, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 241,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,200 briefs, keyed to 189 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.