Russell v. Combs

Citations

• 108 Kan. 411
• 195 P. 605
• 1921 Kan. LEXIS 57

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Vendor and Purchaser — Option to Purchase Real Estate — Rights of Vendor to Cancel Executory Contract. Where the owner of real estate, for a sufficient and valid consideration, grants a written option to purchase such property, which option is to endure for a year, and the grantee exercises the right to purchase within that time, the contract granting such option is not revocable by the grantors and they are not entitled to a decree in equity cancelling such contract.</p> <p>2. Agency — Valid Contract of Agency — When Principal May Not Cancel Agency. Equity will not intrude to cancel a valid contract of exclusive agency to sell real estate, when, within the time such exclusive agency was to endure, the agent has devoted time and effort to find a purchaser and has incurred a possible liability to.a third party in reliance upon the contract of agency, thus accorded to him.</p>