From our private database of 35,600+ case briefs...
Zaman v. Felton
New Jersey Supreme Court
98 A.3d 503 (2014)
Barbara Felton (defendant) purchased a tract of land and obtained a construction mortgage to begin building a residence. After Felton defaulted on her mortgage and faced imminent foreclosure, she reached multiple agreements with Tahir Zaman (plaintiff). Under a land sale agreement, Felton sold the property to Zaman for $200,000. On the day of closing a week later, the parties signed a lease under which Felton would rent the property from Zaman and remain in possession. They also signed an agreement giving Felton the option to buy back the property for $237,000 within three months. At closing, Zaman paid Felton approximately $85,000, which represented the difference between the purchase price and the outstanding construction loan and other obligations. The land sale agreement did not reference the buy-back provision or lease. After closing, Felton sought to return the $85,000 to rescind the agreement, but Zaman refused. Felton continued to possess the property without paying the rent the lease required. Zaman brought suit seeking possession of the property. Felton countersued, seeking a declaratory judgment that the parties’ agreement constituted one transaction that was an equitable mortgage. The trial court dismissed Felton’s countersuit, finding that she intended to sell the property and that the agreements were separate and did not constitute an equitable mortgage. The appellate court affirmed. Felton appealed.
Rule of Law
Holding and Reasoning (Patterson, 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 618,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead 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.Learn about our approachRead more about Quimbee
Here's why 618,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 35,600 briefs, keyed to 984 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.