A. O. Smith v. T. A. Grant

This appeal is from a suit that originated as a declaratory judgment action. Invalidation of a written contract pertaining to the sale and purchase of real estate was the original objective. The appellees were plaintiffs in the trial court. The appellants, one as an intervenor and the remainder as defendants, answered the original petition and filed a cross-action praying judgment for specific performance of the written agreement, for relief associated therewith, and additionally on the part of the intervenor for collection of a real estate broker's commission. In an effort to hold this opinion within tolerable bounds, a copy of the written agreement that is the focal point in the appeal is appended (Appendix A) and references will be made to such copy as convenience requires. The document was usually referred to by the parties and the trial court as an option, though it evidences something more than a simple option. The instrument grants the optionee exclusive right to purchase real property described therein within four months after date, or any extension of the option period, at the price and upon the security therein specified. Separate consideration for the option is recited. The provisions of the instrument dealing with the option to purchase are incorporated in the first unnumbered paragraph and paragraphs numbered 1, 3, 4, 6, and 8.