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Tag Archives: Consideration

Civil Practice – Judgments – Corporate – Merger Doctrine — Guaranty – Consideration – Personal Jurisdiction (access required)

Sollis v. Holman After obtaining a Texas judgment against a no-asset Texas corporation, plaintiff cannot bring a North Carolina action to pierce the corporate veil in order to enforce the judgment against the Texas corporation’s owner, a Texas resident. We affirm summary judgment for defendant.

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Contract – Guaranty – Written Promise to Pay – Consideration – Forbearance (access required)

Klingstubbins Southeast, Inc. v. 301 Hillsborough Street Partners, LLC Letters from an LLC member to its creditor promised to pay the LLC’s debt. Combined with the creditor’s forbearance to sue, the letters allow the creditor’s claim of a guaranty to survive the LLC member’s motion to dismiss. We reverse the trial court’s grant of defendant Reynolds’ motion to dismiss.

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Real Property – Purchase Option – Strict Exercise – Notice & Earnest Money – Statute of Frauds – Consideration (access required)

Miller v. Russell The parties’ option contract required the plaintiff-purchasers to notify the defendant-sellers of the purchasers’ intent to exercise their option to buy two tracts of land from the sellers “by hand delivery or written notice by certified or registered mail, return receipt requested and the sum of $1000 as earnest money to sellers at [defense counsel’s law firm address].”

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Real Property – Fraudulent Transfer Claim – Bankruptcy – Secured Debt – Consideration (access required)

Branch Banking & Trust Co. v. Murray Even though the corporate defendants transferred their properties to the individual defendants just as the plaintiff-creditor was foreclosing on the properties, since there was no equity in the properties, the properties were completely cross-collateralized and guaranteed by the individual defendants, and the creditor retains the same collateral, there are genuine issues of material fact as to whether the transfers were fraudulent.

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