Gulf Refining Co. v. Belz

As a part of the consideration for the lease by Gulf Refining Company of a gasoline filling station, etc., Mr. and Mrs. Belz, who were the owners of the leased property, gave the Gulf Refining Company an option to purchase this realty within the time and on the terms specified in the option. The Gulf Refining Company gave written notice of its election to exercise this option. Mr. and Mrs. Belz refused to convey on the insistence that the option had not been exercised within the time allowed by its terms. Gulf Refining Company’s bill prayed for specific performance. The answer of Mr. and Mrs.…