option to purchase
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 75 U.S. 557 - Willard v. Tayloe · 1869Most cited · 325 citing opinions
The covenant in the lease giving the right or option to purchase the premises was in the nature of a continuing offer to sell. It was a proposition extending through the period of ten years, and being under seal must be regarded as made upon a sufficient consideration, and, therefore, one from which the defendant was not at liberty to recede.