Steele v. Northup

Plaintiffs brought an action in equity claiming they had given adequate timely notice of intent to exercise a repurchase option but performance was prevented by conduct of defendant, asked for accounting, extension of payment date, and that defendant be enjoined from forfeiting their option rights. The trial court granted relief and defendant appeals.

March 30, 1959, the plaintiffs, husband and wife, purchased on contract a 313-acre farm in Davis County.

They later encountered financial difficulties and over a period of time borrowed money from defendant.

In March 1961 they were about to lose…