Legal Opinion
Amoco Oil Co. v. Kraft
Michigan Court of Appeals
Decided March 20, 1979No. Docket 78-783PublishedCited by 16 opinions
1Per curiam
The sole issue in this case is the construction to be given a dual option lease granting the lessee a fixed price option and a first refusal option.
On May 1, 1957, defendants Edmund and Margaret Kraft entered into a lease arrangement with plaintiff Amoco Oil Company’s predecessor in interest, Standard Oil. The lease gave the lessee, Standard Oil, a fixed price option to buy the leased premises for $60,000 and a right of first refusal to buy the property for the amount contained in any bona fide offer made by a third party. The lease was for a ten-year term commencing December 13, 1957, and…
2Cases cited5 opinions
- McIntosh v. GroomesMichigan Supreme Court · 1924
- Texaco, Inc. v. RogowSupreme Court of Connecticut · 1963
- Klever v. KleverMichigan Supreme Court · 1952
- Shell Oil Company v. JolleySupreme Court of Vermont · 1972
- Manasse v. FordCalifornia Court of Appeal · 1922
3Cited by16 opinions
- Tantleff v. TruscelliAppellate Division of the Supreme Court of the State of New York · 1985
- Stenke v. Masland Development Co., Inc.Michigan Court of Appeals · 1986
- Kassin v. Arc-Mation, IncMichigan Court of Appeals · 1979
- Gulf Oil Corporation, a Pennsylvania Corporation v. Lydia ChiodoCourt of Appeals for the Fourth Circuit · 1986
- Amoco Oil Co. v. SnyderSupreme Court of Pennsylvania · 1983
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