Schroeder v. Schlueter
Illinois Appellate Court
407 N.E.2d 204, 85 Ill. App. 3d 574 (1980)
- Written by Serena Lipski, JD
Facts
In 1969 James E. Schroeder (plaintiff) and Floyd and Carol Schlueter (defendants) entered into a contract in which Schroeder had an option to purchase real property owned by the Schlueters. When Schroeder failed to exercise his option to purchase the property during the ensuing nine months, the Schlueters notified Schroeder that they considered him to have abandoned his right to purchase the property. Over the next nine years, the Schlueters made significant expenditures that dramatically improved the property, raising its value from approximately $70,000 in 1969 to $500,000 in 1978. During that time, Schroeder occupied part of the property, so he was well aware of the measures the Schlueters took to improve the property. The Schlueters also used the property to secure loans. In 1978 Schroeder sued the Schlueters for specific performance of the 1969 contract giving him the option to purchase the property. The Schlueters argued that laches applied to bar Schroeder’s claim for specific performance. The trial court agreed and denied Schroeder’s claim. Schroeder appealed.
Rule of Law
Issue
Holding and Reasoning (Harrison, J.)
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