Stratman v. Dietrich

BABCOCK, Judge.

Defendants, Norbert A. Dietrich, Daniel P. Gallagher, Jr., and Myles Arber (sellers), appeal from the judgment of the trial court in favor of plaintiff, James A. Stratman, on Stratman’s claim for rescission of a purchase option agreement and restitution. We affirm.

On December 15, 1978, Stratman and Gary Nelson (buyers) entered into a contract entitled “Option to Purchase Agreement,” for the purchase of land. The contract provided for a series of installment payments to preserve the option through 1985. Each payment was for $45,000, with $15,000 paid by the buyers at the time of…