Option, Payment to Lawyer of Optionee Invalid Exercise of Option; Confirmation Added to Addendum, of Discussion With Seller, Was Not a Counteroffer #331
By Gerry NeelyB.A. LL.B. An owner who sold a building lot took back an option to repurchase it if the buyer did not construct a dwelling house upon it by a fixed date. The option had to be exercised by a payment to the buyer of $20,000 within three months of the date. Construction of …