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<p class="MsoNormal"><span style="color:#1F497D">I think it depends on the language that was sent to the optionor. If the notice says I hereby exercise the option to purchase<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">and agree to purchase according to terms of option you have offer and acceptance.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">This transmission contains confidential attorney-client communications and may not be disclosed to any person but the intended recipient(s). If this matter is
transmitted to you in error, please notify the sender immediately.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Bryce H. Dille
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Campbell, Dille, Barnett & Smith, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">P.O. Box 488<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Puyallup, WA 98371<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Voice: 253.848.3513<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Fax: 253.845.4941<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><a href="mailto:bryced@cdb-law.com"><span style="color:blue">bryced@cdb-law.com</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Rod Harmon<br>
<b>Sent:</b> Friday, March 18, 2016 12:43 PM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> Re: [WSBARP] Option Agreement<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">I think you are correct. Giving notice of intent to exercise is probably a condition the optionee has to fulfill in order to exercise the option, but fulfilling it does not bind the optionee. Payment does.
I think your client is free to decline to exercise the option.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:13.0pt;font-family:"Arial","sans-serif";color:#1F497D">Rod Harmon</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:13.0pt;font-family:"Arial","sans-serif";color:#1F497D"> </span></b><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:13.0pt;font-family:"Arial","sans-serif";color:#1F497D">RODNEY T. HARMON</span></b><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-family:"Arial","sans-serif";color:#1F497D"> Attorney at Law</span></b><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> P.O. Box 1066</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> Bothell, WA 98041</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> Tel: (425) 402-7800</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> Fax: (425) 458-9096</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> <a href="http://www.rodharmon.com">www.rodharmon.com</a></span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> <a href="mailto:rodharmon@msn.com">rodharmon@msn.com</a></span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-top:6.0pt"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Rob Tulloch<br>
<b>Sent:</b> Wednesday, March 16, 2016 1:53 PM<br>
<b>To:</b> 'WSBA Real Property Listserv' <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Option Agreement<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">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.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">I have not been able to identify any cases on point.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">Thanks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">Rob Tulloch<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif";color:#1F497D">Port Angeles<o:p></o:p></span></p>
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