Hamilton Bancshares, Inc. v. Leroy

Plaintiff brought this action for specific performance of two stock purchase options. Under each agreement the option period was 80 days. Within the option periods and prior to their exercise by plaintiff, defendants gave notice of withdrawal of the options. Thereafter, plaintiff sought to exercise the options, and subsequently commenced this action. Defendants maintained they had the right to withdraw the option offers before exercise, and plaintiff maintained they had no such right. The trial court granted defendants’ motion for summary judgment, concluding that the consideration was…