Gleeson v. Frahm

Empson, D.J.

This is an action for specific performance. On July 31, 1978, the defendants, Chris F. Frahm and Olga K. Frahm, executed for consideration an option, which is in pertinent part as follows: “KNOW ALL MEN BY THESE PRESENTS: That . . . *678[Frahms] hereinafter referred to as First Party . . . in consideration of the sum of One Dollar and other good and valuable consideration . . . paid . . . by . . . second party . . . hereby agree to hold, until the 1st day of January, 1980, 12:00 o’clock A.M., . . . subject exclusively to the order of the said second party or his, her or their assigns,…