Ace Realty, Inc. v. Looney

HODGES, Justice.

This is an appeal by Ace Realty, Inc., (Ace) from a judgment which denied its petition for declaratory relief and which granted specific performance in favor of P. A. Looney, Looney and John Doe, co-partners d/b/a Tri-Angle Development Company (Tri-Angle).

Ace had sought construction and interpretation of a real estate sales contract in which it as seller sought to terminate the rights of Tri-Angle as purchaser.

The contract was executed by the parties on March 1, 1972, and provided for the sale of certain real property in Tulsa, Oklahoma.

The contract provided, among other…