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HONIG v. VINSON REALTY CO., INC.

No. 8926SC527.

390 S.E.2d 744 (1990)

98 N.C. App. 392

Claes C. HONIG, Plaintiff, v. VINSON REALTY CO., INC., Defendant.

Court of Appeals of North Carolina.

May 1, 1990.

Attorney(s) appearing for the Case

Kennedy Covington Lobdell & Hickman by Wayne Huckel, Charlotte, for plaintiff-appellant.

Ruff, Bond, Cobb, Wade & McNair by Robert S. Adden, Jr. and Thomas C. Ruff, Charlotte, for defendant-appellee.

JOHNSON, Judge.

Plaintiff purchased commercial property located in Charlotte and executed a written management contract with defendant. The contract, dated 28 April 1983, provided that (1) defendant was to receive a monthly management fee of 6% of the gross rentals collected from lessees Pelton & Crane Company ("P & C") and Inmont Corporation ("Inmont") and (2) in the event plaintiff relieved defendant of managing the property, defendant would receive a buyout...

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