Murphy, Thompson & Co. v. Reed
Court of Appeals of Kentucky
CASE 66. — SEPARATE ACTIONS OP MUPRHY, THOMPSON £ CO., AGAINST GEORGE W. REED AND OTHERS, W. M. ADDINGTON AND OTHERS, AND CLINTON INGLEHEART AND OTHERS, TO ENFORCE AN OPTION TO SELL LAND Appeal from Ohio Circuit Court. T. P. Birkhead, Circuit Judge. Judgment for defendants.
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CASE 66. — SEPARATE ACTIONS OP MUPRHY, THOMPSON £ CO., AGAINST GEORGE W. REED AND OTHERS, W. M. ADDINGTON AND OTHERS, AND CLINTON INGLEHEART AND OTHERS, TO ENFORCE AN OPTION TO SELL LAND Appeal from Ohio Circuit Court. T. P. Birkhead, Circuit Judge. Judgment for defendants. Plaintiffs appeal. . POINTS AND AUTHORITIES. 1. Option contracts discussed and defined. 2. An option is a contract by which the owner of property agrees with another that he shall have the exclusive right to buy his property at a fixed price within a time certain. (Ide v. Leiser, 24 Pac. Rep., 695; Mathew Slate Co. v. New…
1Opinion of the Court
Opinion op the Court by
Chief Justice O’Rear
Reversing.
These eases involve a common principle of law, viz., the binding force, of an option to sell real estate. The.options describe the land, and recite a consideration of $1 paid. They obligate the owners of the soil to convey the coal in the land by general warranty deed to the optionee within a specified future period, on notice by the optionee to the owners of the acceptance of the option and the payment of $5 per acre cash. During the life of the options the optionee did accept their terms, notified the owners thereof, and tendered the…
2Cases cited4 opinions
- Litz v. GooslingCourt of Appeals of Kentucky · 1892
- Bank of Louisville v. BaumeisterCourt of Appeals of Kentucky · 1888
- Tyler v. OnztsCourt of Appeals of Kentucky · 1892
- Bacon v. Kentucky Central Railway Co.Court of Appeals of Kentucky · 1894
3Cited by23 opinions
- Lindlay v. RaydureDistrict Court, E.D. Kentucky · 1917
- Moresi v. BurleighSupreme Court of Louisiana · 1930
- Rehm-Zeiher Co. v. F. G. Walker Co.Court of Appeals of Kentucky · 1913
- Klatch v. SimpsonCourt of Appeals of Kentucky (pre-1976) · 1931
- Cleveland Wrecking Co. v. Aetna Oil Co.Court of Appeals of Kentucky (pre-1976) · 1941
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