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IRT PROPERTY CO. v. PAPAGAYO, INC.

No. 925SC912.

435 S.E.2d 565 (1993)

112 N.C. App. 318

IRT PROPERTY COMPANY, a Georgia corporation, Plaintiff, v. PAPAGAYO, INC., a North Carolina corporation, Defendant.

Court of Appeals of North Carolina.

October 19, 1993.

Attorney(s) appearing for the Case

Clark, Newton & Hinson by Reid G. Hinson, Wilmington, and Robinson, Bradshaw & Hinson by Robin L. Hinson, Charlotte, for plaintiff-appellee.

Parker, Poe, Adams & Bernstein by Charles C. Meeker and Stephen D. Coggins, Raleigh, for defendant-appellant.

ORR, Judge.

In February 1985, Papagayo signed a lease agreement with IRT's predecessor to lease space on the second floor of a two-story shopping center, the Galleria in Wrightsville Beach, North Carolina, in which to operate a Mexican Restaurant. Papagayo opened its restaurant in February, 1986 and was originally successful. The other retail tenants surrounding Papagayo were not successful, however, and subsequently, they left the Galleria location. On 6 August 1987...

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