Spokane, Portland & Seattle Railway Co. v. Ballinger

Citations

• 50 Wash. 547
• 97 P. 739
• 1908 Wash. LEXIS 780

Syllabus

<p>Vendor and Purchaser — Contracts — Options — Acceptance — Failure to Exercise Option. An option agreement for a railroad right of way, whereby the owners agree to convey the right of way within six months upon payment of $900, and wherein it is stipulated that if the company fail to exercise the option within the time specified the agreement shall he null and void, is not changed into a contract binding upon both parties, in which time would not he of the essence, by a written letter of acceptance stating that the payment agreed upon would he made; hut time is of the essence, and if tender is not made within the time fixed the contract is at an end.</p> <p>Same — Performance — Waiver — Estoppel. The fact that the vendors in an option agreement for a railroad right of way allowed the company to go on the premises and make improvements during the period of the option, does not estop them from insisting upon a strict performance of the agreement, and in refusing to make a conveyance where tender of the price was not made within the time specified.</p>