Elam v. Ford

On March 8, 1920, W. L. Elam entered into a written contract with C. M. Wolfe, by which he granted to Wolfe the exclusive right, for a period of ten days, to buy or sell, at the price of $10,000, “all the merchantable timber from twelve inches in diameter and up located on the south side of Thorofare Ridge, known as the James Elam and John Riner tract of land, containing by estimation 200 acres;” and gave the purchaser eighteen months from the date of payment of the purchase money in which to remove the timber.

On March 16, 1920, Wolfe assigned his interest in the foregoing option to J. F.…