Tyson v. McPhail Properties, Inc.

Blackburn, Judge.

This appeal concerns the enforceability of an option to purchase real property. The grantor of the option appeals the trial court’s grant of partial summary judgment to the grantee.

In April 1992, McPhai] Properties, Inc. (McPhail), acting through its representative Ray McPhail, entered into an option agreement, executed under seal, with Billy V. Tyson. Tyson granted McPhail an option to purchase approximately 2.58 acres of real property at a purchase price of approximately $73,000 per acre, plus interest, which option. McPhail could exercise between March 1, 1995, and June 1,…