RAINBOW PROPERTIES v. WILKINSON

No. COA01-48.

556 S.E.2d 11 (2001)

RAINBOW PROPERTIES, a Limited Partnership, Plaintiff-Appellee v. Walter M. WILKINSON, and wife, Ada Fowler Wilkinson, Defendants-Appellants.

Court of Appeals of North Carolina.

December 4, 2001.


Attorney(s) appearing for the Case

Williams, Boger, Grady, Davis & Tuttle, P.A. by Samuel F. Davis, Jr., Concord, for plaintiff-appellee.

Hartsell, Hartsell & White, P.A., by Fletcher L. Hartsell, Jr. and Kimberly A. Lyda, Concord, for defendants-appellants.


WALKER, Judge.

On 10 July 1985, the plaintiff entered into an Option to Purchase Real Estate (Option Agreement) with the defendants. For an initial consideration of $5,000.00, the Option Agreement gave the plaintiff the option, for a period of 12 months, to purchase thirty acres of land owned by the defendants in Cabarrus County for $200,000.00. Thereafter, plaintiff and defendants annually entered into thirteen separate agreements to extend the time for the plaintiff...

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