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Contracts Keyed to Summers
1464-Eight Ltd. & Millis v. Joppich
Citation:
154 S.W.3d 101Facts
Gail Ann Joppich (plaintiff) entered into a contract with 1464-Eight, Ltd. and Millis Management Corporation (collectively “Millis”) (defendants). Pursuant to the contract, Joppich agreed to buy an undeveloped residential lot that was being developed by Millis for $65,000. The parties executed a separate document called the “option agreement.” The option contract gave Millis the exclusive right and option to repurchase the lot from Joppich in exchange for ten dollars. Millis never paid the ten dollars. When Millis attempted to buy back the property, Joppich sued them on the ground that since no consideration was ever given, the option contract was unenforceable.
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