Caldwell v. Frazier

Citations

• 65 Kan. 24
• 68 P. 1076
• 1902 Kan. LEXIS 7

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Contracts — Opifowfo Purchase Realty — Improvements Burned. An option contract to purchase is but a continuing offer to sell, and conveys no interest in the property. When such a contract is accepted, it takes effect from the date of acceptance, and binds the grantee only to a conveyance of the property in its present condition. If, intervening the offer and acceptance, the improvements thereon are destroyed by fire, equity will not decree a spe-, cific performance of the contract with the improvements restored or with an abatement in price equal to the value of the lost improvements.</p>