Texaco, Inc. v. Rogow

The plaintiff, Texaco, Inc., sought specific performance of a contract to sell certain premises leased to it by the defendant. It claimed to have exercised, at a price of $16,000, an option to purchase which was contained in the lease. The defendant, in his answer and counterclaim, denied that the plaintiff had any right to exercise any option at $16,000, alleged that the plaintiff had in fact exercised an option to purchase the premises for $44,000, and sought, by way of counterclaim, specific performance of the plaintiff’s alleged agreement to purchase the property at the latter figure.…