Buttner v. Smith

Citations

• 4 Cal. Unrep. 627
• 36 P. 652
• 1894 Cal. LEXIS 1215

Syllabus

<p>Options—Acceptance.—Defendant Gave Plaintiff a Written Option to purchase stock for $3,100 cash and the balance on time. On the last day of the option plaintiff said he would take the stock “according to the terms of the writing,” but defendant, desiring time to get a portion thereof from one to whom it was pledged, indorsed aq extension of eleven days on the agreement. After such extension, plaintiff let defendant have $3,100 to get the pledged stock, but he failed to do so, and, after the expiration of the option, demanded the return of the $3,100. Held, that there was no binding acceptance of the option.</p> <p>Option.—Plaintiff is Entitled to Interest on the Sum sought to be recovered from the date of his demand for its return.</p>