Summary:
The North Carolina Court of Appeals affirmed the trial court's decision, which had granted summary judgment to the defendants, dismissing the plaintiff's claims for unjust enrichment and conversion. The case centered on the enforceability of a Memorandum of Settlement (MOS) after settlement negotiations failed, specifically whether a $1,000,000 initial payment made by the plaintiff to the defendants was refundable. The court held that the initial payment provision created a standalone agreement, independent of the MOS, and was non-refundable "in any event" according to its terms. The court also found that the initial payment was supported by consideration, making it an enforceable contract, and dismissed the plaintiff's claims accordingly.
To read a copy of the transcript, please see:
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