Wilson v. Spry
Supreme Court of Arkansas
Appeal from Nevada Chancery Court; James D. Shaver, Chancellor; 1. The offer to sell such as the memorandum of-understanding here was based on no consideration and not binding- upon either party until the offer was accepted. Until acceptance the offerer has the right to change or withdraw the offer. 6 R. C. L. 603; 32 Atl. 1120: The money expended by Spry in the examination of the land was not a sufficient consideration as it was no benefit to Wilson.
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Appeal from Nevada Chancery Court; James D. Shaver, Chancellor; 1. The offer to sell such as the memorandum of-understanding here was based on no consideration and not binding- upon either party until the offer was accepted. Until acceptance the offerer has the right to change or withdraw the offer. 6 R. C. L. 603; 32 Atl. 1120: The money expended by Spry in the examination of the land was not a sufficient consideration as it was no benefit to Wilson. James on Options, § 313; 110 N. Y. S. 176; 146 N. W. 418, 420 ; 41 So. Rep. 374; 73 Ga. 570; 5 Cal. 302; 19 A. S. R. 205; 68 Md. 21. If -the…
1Opinion of the CourtWood, J.
This action was brought by the appellee against the appellants to enforce specific performance of a contract of which the following is the memorandum:
“Memo, oe Understanding.”
“Between Mr. Spry and Mr. Wilson re approximately 10,000 Rieres in Arkansas owned by Mr. Wilscm/ but in the name of Trust & Guarantee Company, Limited; and described in annexed list.
‘ ‘ Mr. Spry to put estimators on at once and complete / examination. ¡
“Within forty-five days from today Mr. Spry shall decide whether he wants right to buy, and Mr. Wilson is not to sell in meantime to another.
“Within that forty-five days…
2Cases cited10 opinions
- McDonough v. WilliamsSupreme Court of Arkansas · 1905
- Rogers v. Galloway Female CollegeSupreme Court of Arkansas · 1898
- Kempner v. CohnSupreme Court of Arkansas · 1886
- Lee v. Vaughan's Seed StoreSupreme Court of Arkansas · 1911
- Mann v. UrquhartSupreme Court of Arkansas · 1909
5 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Small v. PaulsonOregon Supreme Court · 1949
- Wiener v. Farm Credit Bank of St. LouisDistrict Court, E.D. Arkansas · 1991
- Standridge v. RiceSupreme Court of Arkansas · 1948
- Wood, Administrator v. ConnerSupreme Court of Arkansas · 1943