Lancaster Malleable Castings Co. v. Dunie

Opinion by

Mr. Justice Jones,

This case involves the construction of a provision in a written lease, conferring on the lessee “the first option and privilege” of purchasing the leased property “at any time” up to within six months of the expiration of the term of the lease at a specified price with a certain condition as to the lessor’s receipt of a bona fide third-party offer for the property at the option price or more. The lease was for a term of five years from December 1,1945.

The option provision, in its entirety, reads as follows:

“8. Tenant shall have the first option and privilege of…