Barclay v. Dublin Lake Club

An option to purchase real estate is a unilateral contract by which the owner of the property agrees to sell if the holder of the option chooses to buy. The latter has “the right to an election,” if exercised within a stated or reasonable time, but “is not bound to complete the sale.” Morgan v. Forbes, 236 Mass. 480, 483. See also New England Box Co. v. Prentiss, 75 N. H. 246; Kann v. Company, 81 N. H. 535, 539, 540, and cases cited.

By the express provisions of the instrument under consideration the plaintiff and her husband agreed to convey the real estate in question to the defendant upon…