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Contracts Keyed to Fuller
1464-Eight, Ltd. & Millis Management Corp. v. Joppich
Facts
In July 1997, Gail Ann Joppich (Plaintiff) entered a real estate contract with 1464-Eight, Ltd. and Millis Management Corporation (Defendants). Plaintiff was to purchase an undeveloped residential lot for $65,000.00 from Defendants. At the time of closing, Plaintiff and Defendants executed an option agreement, by which Plaintiff agreed to allow Defendants to purchase the lot back from her in the event she failed to begin constructing a residence on the land within 18 months. The option agreement recited Plaintiff’s receipt of a ten dollar option fee paid by Defendants. Plaintiff failed to commence construction of a residence within the requisite time. On September 4, 1999, Defendants sought to buy back the lot. In October 1999, Plaintiff sued for a declaratory judgment stating that the option agreement was invalid for lack of consideration because the ten dollar option fee had never been delivered to her. Plaintiff moved for summary judgment and Defendants cross-moved for partial summary judgment. The trial court denied Plaintiff summary judgment and granted Defendants partial summary judgment. The court of appeals reversed.
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