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Contracts Keyed to Barnett
Masterson v. Sine
Citation:
68 Cal. 2d 222, 436 P.2d 561, 65 Cal. Rptr. 545 (1968).Facts
Dallas Masterson and his wife Rebecca owned a ranch as tenants in common. On February 25, 1958, they conveyed the ranch to Medora Sine (Dallas’s sister) and her husband Lu Sine by a grant deed that reserved to the grantors an option to repurchase the property on or before February 25, 1968, for the “same consideration as being paid heretofore plus their depreciation value of any improvements” added to the property after two and a half years. Dallas was subsequently adjudged bankrupt, and his trustee in bankruptcy, along with Rebecca, brought a declaratory relief action to establish their right to enforce the option. The trial court admitted extrinsic evidence to clarify the meaning of “same consideration” and “depreciation value” but excluded evidence offered by defendants to show that the parties intended the option to be personal to the grantors to keep the property in the Masterson family and thus not assignable to the trustee in bankruptcy.
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