The Law of Option Contracts

Cover The Law of Option Contracts
The Law of Option Contracts
Frank James
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Sehotte, 48 Ore. 609, 87 P. 1046.
Noble V. Mann, 32 Ky. L. Rep. 30, 105 S. W. 152, is not clear on the facts reported, but it is implied that offeree had knowledge of the sale if not of its ' ' terms, ' ' besides there was no actual consideration.
Beckman v. Waters, 3 Cal. App. 734, 86 P. 997, holds that suit to quiet title against optionee is sufficient notice of teniiination of an indef- inite extension of option.
§ 706 LAW OF OPTION CONTRACTS 272 established rule as to sales and conveyance i
...s tliat a sale and conveyance of the premises, by the offerer, amounts to a revocation only where the sale is made in good faith and for a valuable considera- tion, and such sale is brought to the knowledge of the offeree prior to his acceptance.^ It is not meant, however, by the above statement, that a revocation can be made only by a sale and conveyance. The general rule, as first above stated, is that a revoca- tion can be worked by any act of the offerer show- ing his intention to revoke, of which act the offeree has notice, before acceptance.

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