Large v. Mayes

HARGRAVES, Justice, Pro Tem.

Respondents listed certain real property for sale. Prior to August 1976, the parties here had negotiated for the purchase and sale of the property. The specifics of such prior negotiations are not particularly relevant.

On August 24, 1976, a contract was executed by respondents granting appellant an exclusive option to purchase the property upon payment by appellant of the sum of $1,000.00 which sum would be applied to the purchase price if the sale was completed.

On December 25, 1976, appellant exercised his option by delivering written notice to an agent of…