Rego v. Decker
Supreme Court of Alaska
482 P.2d 834 (1971)
Joseph Rego and his wife (plaintiffs) leased land to Robert Decker (defendant) in 1966. The lease contained an option to purchase provision. In 1967, Decker notified the Regos that he was exercising the option to purchase provision. The Regos refused to convey the land and instead sold it to another purchaser. Decker sued for specific performance. The trial court entered judgment in favor of Decker ordering the Regos to convey the land. The Regos appealed arguing that the terms of the contract were too uncertain because the option to purchase provision did not contain any language regarding security to guarantee Decker’s payment after the land was delivered. In the alternative, they argued that if specific performance is ordered then a security provision should be included to protect their interests.
Rule of Law
Holding and Reasoning (Rabinowitz, J.)