Board of Control of Eastern Michigan University v. Burgess

On February 15, 1966, defendant signed a document which purported to grant to plaintiff a 60-day option to purchase defendant’s home. That document, which was drafted by plaintiff’s agent, acknowledged receipt by defendant of "One and no/100 ($1.00) Dollar and other valuable consideration”. Plaintiff concedes that neither the one dollar nor any other consideration was ever paid or even tendered to defendant. On April 14, 1966, plaintiff delivered to defendant written notice of its intention to exercise the option. On the closing date defendant rejected plaintiff’s tender of the purchase…