Tepsich v. Howe Construction Co.

Defendants appeal from a judgment ordering reconveyance to plaintiffs of a certain parcel of land if defendant should fail to comply with the other provisions of the judgment as hereinafter set forth. On August 6, 1956, plaintiffs, who were owners of a parcel of realty, now a part of the city of Lansing, entered into a preliminary agreement with defendant Howe Construction Company, whereby the latter was given an option to purchase said land. The agreement provided that optionee, upon exercising the option, should immediately proceed to form a corporation for the purpose of constructing and…