Cox v. Ney

ELLETT, Chief Justice:

This is a suit for specific performance based upon an option to purchase included in a lease given by the prior owner of the land to Phillips Petroleum Company.

The original lessors and owners of the property were Edgar E. Lasson and A. Reeve Norman, doing business as Lasson-Norman Oil Company, a partnership. The lease terms provided for a term of ten years with options to renew for three additional five-year terms, provided notice of intention to renew would be given in writing at least thirty days before the end of the lease term. The lease also provided that the lessee…