Russ Wyant owned Humble Ranch in Perkins County, South Dakota. Edward Humble, whose parents had previously owned
Question:
Russ Wyant owned Humble Ranch in Perkins County, South Dakota. Edward Humble, whose parents had previously owned the ranch, was Wyant's uncle. Humble held a two-year option to buy the ranch. The option included specific conditions. Once it was exercised, the panics had thirty days to enter into a purchase agreement, and the seller could become the buyer's lender by matching the terms of the proposed financing. After the option was exercised, the parties engaged in lengthy negotiations. Humble did not respond to Wyant's proposed purchase agreement nor advise him of available financing terms before me option expired, however. Six months later, Humble filed a suit against Wyant to enforce the option. Is Humble enti-tled to specific performance Explain. [Humble IL Wynn; 843 N.W.2c1 334 (S.Dak. 2014)1 (See Contract Discharge)
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Business Law Text and Cases An Accelerated Course
ISBN: 978-1305967298
14th edition
Authors: Roger LeRoy Miller