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RICH, RICH & NANCE v. CAROLINA CONST. CORP.

No. 378A01.

558 S.E.2d 77 (2002)

RICH, RICH & NANCE, a NC General Partnership, v. CAROLINA CONSTRUCTION CORPORATION.

Supreme Court of North Carolina.

February 1, 2002.

Attorney(s) appearing for the Case

Trimpi, Nash & Harman, L.L.P., by John G. Trimpi, Elizabeth City, for plaintiff-appellant.

The Twiford Law Firm, L.L.P., by Branch W. Vincent, III, Manteo, for defendant-appellee.

LAKE, Chief Justice.

The sole question presented for review in this case is whether the rule against perpetuities prevents enforcement of contractual rights found in an addendum to a real estate sales contract providing for a $600 "availability fee" to be paid upon the sale of each lot in a subdivision. The Court of Appeals held that such an agreement violates the rule against perpetuities and, therefore, is unenforceable. Rich, Rich & Nance v. Carolina Constr...

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