Lewis v. Fletche

617 P.2d 834 (1980)

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Nature of the Case

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Facts

Fletcher (D) listed their 440-acre farm for sale in 1971 with a realtor. Lewis (P) was interested in buying, but after some negotiations, D agreed to sell, and P agreed to buy only 360 acres. They executed a Receipt and Agreement to Purchase. The parties also executed an option on an adjoining 40-acre parcel. By its terms, the option could be exercised in May 1976 or earlier if the partied agreed. P contends that the sale of the land and the option were inseparable and both were executed on March 22, 1971. D asserts, and the trial court found that the Receipt and Agreement to Purchase for the 360 acres was executed on March 18, 1971, and the option was executed on March 22, 1971. The option contract recited a consideration of $20.00. The trial court found, and the evidence supports that finding that the $20.00 payment had never been made. In April 1976, P gave notice of the intent to exercise the option and D refused. The trial court denied P’s request for specific performance in that the contract failed for want of consideration. P appealed.