LONGIOTTI v. WACHOVIA BANK & TRUST CO., INC.

No. 7421SC1014.

214 S.E.2d 205 (1975)

25 N.C. App. 532

Samuel M. LONGIOTTI and Melvin M. Stein, d/b/a Sumpter Square Associates, a partnership v. WACHOVIA BANK & TRUST COMPANY, INC., N.A.

Court of Appeals of North Carolina.

May 7, 1975.


Attorney(s) appearing for the Case

Midgette, Page, Higgins & Niles by Robert J. Page, Chapel Hill, for plaintiffs-appellants.

Womble, Carlyle, Sandridge & Rice by H. Grady Barnhill, Jr. and Ralph K. Frasier, Winston-Salem, for defendant-appellee.


MARTIN, Judge.

Plaintiffs contend that Wachovia had no legal right to the added payment of $27,000.00 in return for relinquishing its rights and the deed of trust. Their contention is based upon two arguments. First, it is argued that a "thorough examination of the documents executed by Aetna, Wachovia and Appellants reveals no provision for liquidated damages, or any other payment to Wachovia if the permanent loan did not close with Aetna." Secondly, they argue that...

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