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Contracts Keyed to Calamari
Franklin v. Jordan
Facts
The Plaintiff, Franklin (the "Plaintiff"), brought suit against the Defendant, Jordan (the "Defendant"), for specific performance of an option contract. This option contract granted the Plaintiff's assignor, Ackerman exclusive right to purchase a certain tract of land. A clause in the option contract made it fully assignable, but any assignment would in "no way release or relieve the purchaser from (his) liability, obligations or any of the provisions of this agreement." Ackerman assigned the option to the Plaintiff. One of Ackerman's obligations as optionee was to "give a note signed by him personally promising to pay the balance of the purchase price, due after the initial payment." Even after the assignment, Ackerman was not released from his obligation to give a note. The Plaintiff tendered a note to the Defendant as part of the offer to perform the agreement.
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