Carmichael v. Dan Nance Corporation

Lewis, Chief Justice:

The basic question in this appeal is whether appellant properly exercised his option to renew a lease of real estate. The lower court held that appellant failed to exercise the option to renew the lease and denied his request for specific performance. Appeal is from that order.

On October 9, 1962, a lease agreement was entered into between Phillips Petroleum Company, as Lessee, and Dan W. Nance and his wife, as Lessors, wherein a lot in Myrtle Beach, South Carolina, was leased for a term of'fifteen (15) years, with the option to renew the lease for three (3) successive…