Gaugert v. Duve

This case concerns that part of the law known as "election of rights." At law, when a contract is missing one of the essential elements which would make it binding, it is known as an "executory" contract and a party is under no obligation to perform. But if a party "elects" to perform regardless of the contractual defect, the contract is "executed" and the party who made the election is thereafter bound. In this case, the trial court declined to enforce a written option of first refusal regarding the purchase of real estate, finding that there was no consideration and no meeting of the minds.…