Jackson paid Brady $700 for a 90‑day option to purchase Brady's 160‑acre farm for $132,000. The option agreement was in writing and signed by both parties. The agreement referred only to the option, its period, a legal description of the farm, and the purchase price. Thirty days later, Jackson wrote Brady, "I hereby exercise my option to purchase your farm for $132,000, subject to your replacing the well pump and related plumbing fixtures." Is there a contract? Is the option still valid?

Question

​Jackson paid Brady $700 for a 90‑day option to purchase Brady's 160‑acre farm for $132,000. The option agreement was in writing and signed by both parties. The agreement referred only to the option, its period, a legal description of the farm, and the purchase price. Thirty days later, Jackson wrote Brady, "I hereby exercise my option to purchase your farm for $132,000, subject to your replacing the well pump and related plumbing fixtures." Is there a contract? Is the option still valid?

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The Answer of ​Jackson paid Brady $700 for a 90‑day option to purchase Brady's 160‑acre farm for $132,000. The option agreement was in writing and signed by both parties. The agreement referred only to the option, its period, a legal description of the farm, and the purchase price. Thirty days later, Jackson wrote Brady, "I hereby exercise my option to purchase your farm for $132,000, subject to your replacing the well pump and related plumbing fixtures." Is there a contract? Is the option still valid?

​Jackson Paid Brady $700 for a 90‑day Option to Purchase

Jackson Paid Brady $700 for a 90‑day Option to Purchase