Markley v. Godfrey

Citations

• 254 Pa. 99
• 98 A. 785
• 1916 Pa. LEXIS 691

Syllabus

<p>Real estate — Contracts—Option to purchase — Exercise of option —Waiver—Case for jury.</p> <p>Defendant sold to plaintiff on September 23, 1911, a house and an adjoining lot, both being subject to a mortgage given by the defendant, and on the same day entered into an agreement with the plaintiff under seal in which defendant agreed to repurchase the lot at an agreed price, “At the expiration of one year from the date hereof,” at the option of the plaintiff. On July 12, 1912, plaintifE wrote defendant the following letter: “I will therefore give you notice that I will revert or resell this lot as per agreement to you at the stipulated figure $2,500 as per agreement. I will give it into your hands for convenience’ sake from this date.” There was no reply by defendant. On September 23, 1912, plaintiff went to see defendant at his place of business but did not find him, and called daily thereafter without meeting him until September 28, when he met him and tendered a deed for the lot, executed several days after September 23d. Thereafter plaintiff again wrote defendant offering conveyance of the lot, and then commenced an action of assumpsit for the agreed purchase-price. Held, (1) plaintiff’s letter of July 12th was a proper exerci_se of the option; (2) that exercise of the option was not waived by the subsequent conduct of the plaintiff, and a verdict for the plaintiff was sustained, for the purchase-price with interest from the date of the commencement of suit.</p>