Riverside Fence Co. v. Novak

Defendants appeal from a judgment decreeing specific performance of an option to sell certain real property.

The following facts are virtually undisputed:

On November 20, 1962, defendants leased subject property to plaintiff for a term expiring October 31, 1963, with an option to renew for two successive one-year terms. Plaintiff' exercised the renewal option for the two years extending the lease to October 31, 1965. The lease granted plaintiff an option to purchase the property for $29,000 on the following terms: $5,000 cash down, the assumption of an existing trust deed in-favor of Hemet…