Chrysler Motors Corp. v. Tom Livizos Real Estate, Inc.

Seitz, Chancellor:

The issues here are whether an option agreement (“option”) to sell real estate is valid and, if so, whether it is specifically enforceable. Surprisingly enough, important legal points in this interesting case appear not to have arisen before in this State.

The option involved was granted by Tom Livizos Real Estate, Inc. (“defendant”) to Chrysler Motors Corporation (“plaintiff”). The defendant asserts that the option was invalid, inter alla, because it lacked sufficient consideration and that, in any event, it should not be specifically enforced for the same and other reasons…