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RICHARDSON CORP. v. BARCLAYS AMERICAN/MORTGAGE CORP.

No. 9218SC737.

432 S.E.2d 409 (1993)

RICHARDSON CORPORATION v. BARCLAYS AMERICAN/MORTGAGE CORPORATION, A.F. Real Estate Holdings, Inc., and Paul M. Dennis, Jr., Substitute Trustee.

Court of Appeals of North Carolina.

August 3, 1993.

Attorney(s) appearing for the Case

Hunter, Wharton & Lynch, by John V. Hunter III, Raleigh, and Adams Kleemeier Hagan Hannah & Fouts, by M. Jay DeVaney and Amiel J. Rossabi, Greensboro, for plaintiff-appellant.

Smith Helms Mulliss & Moore, by J. Donald Cowan, Jr. and Andrew S. Chamberlin, Greensboro, for defendant-appellees.

GREENE, Judge.

Richardson Corporation (Richardson) appeals from the judgment entered on 27 April 1992 granting defendants' motion for summary judgment and denying Richardson's cross-motion for summary judgment.

In March, 1986, Richardson and Adams Farm Company (Adams Farm), a North Carolina partnership, agreed that Richardson would loan Adams Farm $1,050,000 to assist in the purchase and development of a tract of land containing approximately 697 acres, to...

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