Ranch Homes, Inc. v. Greater Park City Corp.

HALL, Justice:

Defendant appeals from a judgment requiring it to respond in damages for breach of an option agreement.

The basic facts pertaining to the option are not in dispute. By the terms of the agreement, plaintiff paid defendant $10,000 for a seven-month option to purchase for the sum of $502,000 some 30 acres of land in Park City, Summit County, Utah. In the event the option was exercised, defendant was then to install, or cause to be installed, a paved roadway and various utility lines to the boundary of the optioned property. Plaintiff exercised the option in a timely manner, but…