[DOWNLOAD] "Loy Randall Et Al. v. Lydia Erdman" by Supreme Court of Nebraska * Book PDF Kindle ePub Free

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eBook details

• Title: Loy Randall Et Al. v. Lydia Erdman
• Author : Supreme Court of Nebraska
• Release Date : January 24, 1975
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 62 KB

Description

In this action for the specific performance of an option to purchase real estate, the District Court rendered a summary judgment
in favor of the defendant. The plaintiffs appeal and contend that the District Court erred in not granting summary judgment
in their favor decreeing performance of the option to purchase. We reverse the judgment of the District Court and grant summary
judgment in favor of the plaintiffs. On December 30, 1970, the plaintiffs, Loy Randall and Marian Randall, and the defendant, Lydia Erdman, executed a contract
in which the defendant leased certain land which she owned to the plaintiffs. The lease was for a term of 1 year from January
1, 1971, to December 31, 1971. The lease granted to the plaintiffs an option to extend the lease under the same conditions
for two additional terms of 1 year each, conditioned upon written notice to the defendant 30 days prior to the termination
of the lease or the extension thereof. Paragraph 9 of the leasing contract also gave the plaintiffs the option to purchase
the property upon giving written notice 30 days prior to the expiration of the lease or an extension thereof. This clause
provided, in the event of the exercise of the option, that the plaintiffs were to pay the defendant $25,000 at the time of
the exercise of the option to purchase.

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