Megal v. Kohlhardt

The following issues are presented on this appeal:(1) What effect did the rezoning of the 58-acre tract as a “Local Business District” by the town ordinance, which became effective March 12, 1957, have upon the options as amended by the extension agreement of May 3, 1956?(2) Had all three options expired prior to the time that •the plaintiffs served the notice of attempted exercise of option on October 24, 1957?(3) Are the defendants estopped from claiming that the plaintiffs defaulted in making the payments required under the options as amended by the May 3, 1956, extension ■agreement?(4) If…