Sheppard v. Andrews

Appellants assign as error the allowance of the motion for nonsuit as to the feme defendant. In this we find no error. Options, being unilateral in nature and imposing upon the optionee no obligation to buy, are to be construed strictly in favor of the optionor. Accordingly, it is generally held that time is of the essence in such agreements, and conditions imposed therein must be strictly per formed in order to convert the optionee’s right to buy into a contract for sale. Ferguson v. Phillips, 268 N.C. 353, 150 S.E. 2d 518. The option agreement in the case before us expressly provided that…