Cosgrove v. Kappel

Opinion by

Mr. Justice Cohen,

The appellee, Albert P. Kappel, being the owner of a certain tract of land located in Chester County, Pennsylvania, granted an option to the intervenor, Harold L. Wilson, to purchase the land. The terms of the option were contained in a letter and provided that in consideration for the placing of a certain mortgage Kappel gave to Wilson an option to pur*110chase the mortgaged property at any time during the term of either three or five years depending upon the terms for which the mortgage is originally written. “The purchase price shall he $80,000.00 payable $8,000.00…