Klinger v. Peterson

OPINION

CONNOR, Justice.

This case concerns the exercise of an option, contained in a lease agreement and its supplements, to purchase certain real property. There is also presented a question of whether, before the attempted exercise of the option to purchase, the lease was terminated, thereby preventing the option from being invoked.

Melvin W. Peterson and Ruth G. Peterson, hereafter called lessors, are the owners of commercial real property situated at the corner of Lake Otis Road and Northern Lights Boulevard in Anchorage, Alaska. The building on the property was original ly a grocery store,…