Merritt v. Sims

ANDERSON, Justice.

This is an action for a declaratory judgment, by which plaintiff seeks a declaration of the rights of the parties under a contract made May 12, 1945.

August 2, 1943, James G. Sims and the defendants, Howard and Marjorie Sims, husband and wife, as owners of certain mining claims in Lemhi County, Idaho, entered into an exclusive written lease and option agreement with one Harold B. Smith, whom plaintiff had obtained as a buyer. The lease and option required the payment of $25,000 in semi-annual payments of $5,000 each, the last to be payable in November, 1945. It provided also…