Dennett v. Kuenzli

LANSING, Judge.

This is a dispute over the validity of the exercise of an option to purchase farm property.

I. FACTS AND PROCEDURAL HISTORY

In March 1984, Mel Dennett entered into an agreement with Ronald L. and Ida Marie Kuenzli for the sale of farm property. Although Dennett’s initial asking price was $400,000, he agreed to sell the land to the Kuenzlis for $300,000. The purchase price, plus interest, was payable in twenty annual installments. The agreement provided that if the Kuenzlis prepaid the balance at any time during the life of the contract they would also be required to pay a…