<html><body><span style="font-family:Verdana; color:#000000; font-size:12pt;"><div>There's some good info at this link: <a href="http://real-estate.lawyers.com/residential-real-estate/option-contracts-for-buying-and-selling-real-estate.html">http://real-estate.lawyers.com/residential-real-estate/option-contracts-for-buying-and-selling-real-estate.html</a><br><br></div><div>This all sounds reasonable - being a contract for land, the option agreement has to satisfy the statute of frauds (be written, etc.), and being a contract, has to observe the doctrines of offer, acceptance, enough specificity for a court to fashion a remedy if unclear, and, if necessary, determining mutual intent of the parties based primarily on the content of the contract (see <a href="https://tollefsenlaw.com/principles-contract-interpretation">https://tollefsenlaw.com/principles-contract-interpretation</a>/<br>)</div><div><br></div><div>Hope this helps,</div><div><br></div><div>DV<br></div>
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-------- Original Message --------<br>
Subject: Re: [WSBARP] Option Agreement<br>
From: "scott <a href="http://scottgthomaslaw.com">scottgthomaslaw.com</a>" <scott@scottgthomaslaw.com><br>
Date: Fri, March 18, 2016 2:50 pm<br>
To: WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
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<div>i would suggest it depends on the language of the option itself, which may set forth precisely how an option is to be exercised. And if it doesn't, would it not depend on the intent of the parties?<br></div><blockquote type="cite" style="border-left: blue 2px solid; margin-left: 8px; padding-left: 8px;"> On March 18, 2016 at 2:19 PM Bryce Dille <<a href="mailto:BryceD@cdb-law.com">BryceD@cdb-law.com</a>> wrote:<br><br><div class="WordSection1"><div class="MsoNormal" style="font-size:12pt;"><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</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">and agree to purchase according to terms of option you have offer and acceptance.</span></div><div><div class="MsoNormal" style="font-size:12pt;"><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.</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Times New Roman','serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Bryce H. Dille </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Campbell, Dille, Barnett & Smith, PLLC</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">P.O. Box 488</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Puyallup, WA 98371</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Voice: 253.848.3513</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Fax: 253.845.4941</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"><a target="_blank" href="mailto:bryced@cdb-law.com"><span style="color: blue;">bryced@cdb-law.com</span></a></span><br></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Business Entity Creation and Management</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Business, Government and Tax Law</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Real Estate and Land Use, Residential, Commercial and Condominium Development</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Estate Planning, including Wills and Trusts, and Probate Administration</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Representation Homeowners/Condominium Association Real Estate Developments</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;">Real Property Foreclosures and Forfeitures</span></div></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;"> </span></div><div><div style="border: none; border-top: solid #B5C4DF 1.0pt; padding: 3.0pt 0in 0in 0in;"><div class="MsoNormal" style="font-size:12pt;"><strong><span style="font-size: 10.0pt; font-family: 'Tahoma','sans-serif';">From:</span></strong><span style="font-size: 10.0pt; font-family: 'Tahoma','sans-serif';"> <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>] <strong>On Behalf Of </strong>Rod Harmon<br> <strong>Sent:</strong> Friday, March 18, 2016 12:43 PM<br> <strong>To:</strong> 'WSBA Real Property Listserv'<br> <strong>Subject:</strong> Re: [WSBARP] Option Agreement</span></div></div></div><div class="MsoNormal" style="font-size:12pt;"> </div><div class="MsoNormal" style="font-size:12pt;"><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.</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;"> </span></div><div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 13.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Rod Harmon</span></div><div class="MsoNormal" style="font-size:12pt;"><strong><span style="font-size: 13.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></strong></div><div class="MsoNormal" style="font-size:12pt;"><strong><span style="font-size: 13.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">RODNEY T. HARMON</span></strong></div><div class="MsoNormal" style="font-size:12pt;"><strong><span style="font-family: 'Arial','sans-serif'; color: #1f497d;"> Attorney at Law</span></strong></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> P.O. Box 1066</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> Bothell, WA 98041</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> Tel: (425) 402-7800</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> Fax: (425) 458-9096</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> <a target="_blank" href="http://www.rodharmon.com">www.rodharmon.com</a></span><br></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> <a target="_blank" href="mailto:rodharmon@msn.com">rodharmon@msn.com</a></span><br></div><div class="MsoNormal" style="font-size:12pt;margin-top: 6.0pt;"><span style="color: #1f497d;"> </span></div></div><div class="MsoNormal" style="font-size:12pt;"><span style="color: #1f497d;"> </span></div><div><div style="border: none; border-top: solid #E1E1E1 1.0pt; padding: 3.0pt 0in 0in 0in;"><div class="MsoNormal" style="font-size:12pt;"><strong>From:</strong> <a target="_blank" href="mailto:wsbarp-bounces@lists.wsbarppt.com"> wsbarp-bounces@lists.wsbarppt.com</a> [<a target="_blank" href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>] <strong>On Behalf Of </strong>Rob Tulloch<br> <strong>Sent:</strong> Wednesday, March 16, 2016 1:53 PM<br> <strong>To:</strong> 'WSBA Real Property Listserv' <<a target="_blank" href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br> <strong>Subject:</strong> [WSBARP] Option Agreement</div></div></div><div class="MsoNormal" style="font-size:12pt;"> </div><div><div><div class="MsoNormal" style="font-size:12pt;"><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.”</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><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.</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">I have not been able to identify any cases on point.</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Thanks.</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;"> </span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Rob Tulloch</span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: #1f497d;">Port Angeles</span></div></div></div></div></blockquote><div><br> </div><blockquote type="cite" style="border-left: blue 2px solid; margin-left: 8px; padding-left: 8px;">_______________________________________________<br>WSBARP mailing list<br><a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbarp">http://mailman.fsr.com/mailman/listinfo/wsbarp</a></blockquote><div><br> </div><div class="io-ox-signature">Scott G. Thomas<br>Law Office of Scott G. Thomas<br>1204 Cleveland Avenue<br>Mount Vernon, WA 98273<br>(360) 503-1042<br><a href="http://www.scottgthomaslaw.com">www.scottgthomaslaw.com</a><br><br>Because this is a communication from a lawyer, it necessarily contains warnings such as this. I am a lawyer, but unless we have entered into an agreement for legal services, I am not your lawyer. And, if this message was intended for someone else but you have inadvertently received it, I ask that you delete the message and let me know you received it so that I can take steps to make sure you do not receive messages in the future. Thank you.</div> <hr>_______________________________________________<br>
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