Contracts Keyed to Epstein
Beall v. Beall
Facts
Calvin Beall (Calvin) together with his wife, Cecilia Beall (Defendant), owned a parcel that was bordered on three sides by a farm, which was owned by Pearl Beall (Pearl), Calvin’s mother. In 1968, Carlton Beall (Plaintiff), Calvin’s second cousin, contracted to purchase the farm from Pearl and executed an option agreement to buy Calvin and Defendant’s property for $28,000. The option had a term of three years and was supported by consideration of $100. Plaintiff did not exercise the option. In 1971, the parties executed a new option agreement for a term of five years and supported by another $100 in consideration. In 1975, the parties extended the five-year option agreement for another three years, to February 1, 1979. The extension was provided for in a written addendum and was signed by both Calvin and Defendant, however, the extension did not provide for additional consideration. In August 1977, Calvin died and Defedant assumed full and sole ownership of the property. In May and September 1978, Plaintiff notified Defendant that he was exercising the option to buy her property. Defendant refusd to sell.
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