Smith v. Wheeler
Supreme Court of Georgia
210 S.E.2d 702 (1974)
Wheeler (plaintiff) and Smith (defendant) entered into an option contract whereby Smith had one year to buy a piece of property. The option agreement provided that consideration of $1.00 was paid for the option, but it was never actually paid. Wheeler, through his attorney, informed Smith that because the $1.00 was never paid that he was considering the option void. Wheeler later informed Smith by letter that he was intending to sell the property to another individual. Smith informed Wheeler by letter that he intended to exercise the option and enclosed the $1.00. Smith also informed Wheeler that he was prepared to pay the full purchase price for the property and he scheduled the closing date. Wheeler refused delivery of the letter. Wheeler filed a declaratory judgment action seeking to have the option declared void. The trial court granted Wheeler’s motion for judgment on the pleadings.
Rule of Law
Holding and Reasoning (Jordan, J.)