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PIERCE v. GADDY

No. 7720SC1066.

257 S.E.2d 459 (1979)

42 N.C. App. 622

Lois B. PIERCE, Individually, and Addie Pierce Miller and Steve Pierce, Individually and as administrators of John Q. Pierce, Deceased v. Phil GADDY and wife Johnnie Gaddy.

Court of Appeals of North Carolina.

August 21, 1979.

Attorney(s) appearing for the Case

Harry B. Crow, Jr., Monroe, for plaintiffs-appellants.

James E. Griffin, Monroe, for defendants-appellees.

PARKER, Judge.

In their complaint as originally filed, plaintiffs alleged that the 12 August 1954 deed "was intended to be a security interest" in the land conveyed, and they prayed the court to reform the deed by declaring it to be a security interest only. In their amended complaint they alleged an agreement by defendant, Phil Gaddy, to reconvey the property if plaintiffs' intestate repaid the loan he had obtained from Gaddy plus interest within one year from the...

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