Newberry v. McClaren

Frank Holt, Justice.

The appellants leased 1,120 acres of land for S3,000 annually to the appellees. The term of the written lease was from May 1, 1971, to December 31, 1975. The agreement gave the appellees the option to purchase the acreage at $200 an acre within a period of not less than thirty days and not more than ninety days before the end of the lease. Appellees properly exercised this option. Thereupon the appellants brought an action to rescind the agreement alleging various breaches by the appellees. The appellees denied the allegations and counterclaimed for specific performance.…