[WSBARP] Option Agreement

[Rob Tulloch]

Am I correct that sending a "notice of intent to exercise an option" to
purchase does not bind the optionee unless and until she exercises the right
as set forth in the agreement?  In this instance, the agreement requires
notice several months in advance of when "[t]he right to exercise the option
will become effective."

 

The optionee does not want to proceed even though she sent a timely notice
of intent to exercise, having concluded that she does not want the property.

 

I have not been able to identify any cases on point.

 

Thanks.

 

Rob Tulloch

Port Angeles

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