Strasser v. Steck

Citations

• 216 Pa. 577
• 66 A. 87
• 1907 Pa. LEXIS 868

Syllabus

<p>Contract — Option—Coal lands — Construction of contract.</p> <p>An owner of options on coal land having a right to sell the same, entered into an agreement in writing by which he agreed to “grant, bargain and sell, all the coal and land owned and optioned by him.” The agreement further provided as follows: “In consideration whereof said second party, for himself or his assigns, agrees to pay to said first party the sum of One dollar, the.receipt whereof is hereby acknowledged, in full for this option, and in the event of this agreement being absolute by the election and notice above mentioned, then and not otherwise, said second party agrees to pay. said first party the sundry sums between the prices mentioned in said options to the individual farmers and the sum of forty dollars per acre for each and every acre which may be taken up, and to which good titles are to be had, payable as follows: When the deeds are delivered from the present owners the payments to the farmers to be as stipulated in the options and the same may be determined by surveys.” The purchaser subsequently elected, to accept the option, and so notified the seller. The purchaser failed to exercise his right to purchase from the farmer's after he became the owner of the options. Held, that he was liable to the seller for the difference between the option price and $40.00 per acre.</p>