71 Pa. Super. 523 | Pa. Super. Ct. | 1919
Opinion by
John Graham was the owner of real estate in the City of Harrisburg. The appellants, who were real estate agents and brokers, were instrumental in leasing the property to one, Soutter. The lease contained a clause giving Soutter the privilege of purchasing the leased property until March 31, 1917, for the sum of $115,000. The verdict of the jury established the fact that there was an implied contract that Graham should pay the appellants reasonable compensation for their services in securing a purchaser, in case Soutter exercised the option and purchased the property in pursuance of its terms. Graham died on December'15, 1915, leaving a will, of which he appointed the appellees executors, and in which he devised the leased premises to the Carlisle Trust Company, in trust for certain purposes expressed therein.
If Soutter, Graham’s lessee, desired to exercise the option contained in his lease and purchase the leased premises for $115,000 all that he had to do was, to notify the lessor, in writing, or, after his death, his devisee, of his election to exercise the option within the time fixed in the lease, March 31,1917, and there would have been created a valid contract, binding on both parties and capable of being specifically enforced by appropriate proceedings: Helsel’s Est., 255 Pa. 612; Barnes v. Rea, 219 Pa. 287; Rockland-Rockport Lime Co. v. Leary, 203 N. Y. 469, 97 N. E. 43; and the appellants would have been entitled to reasonable compensation for having secured a purchaser for the real estate. But Soutter did not do this. Whatever may have been the subject of the conversation between Soutter and Fisher, the appellants’ representative, there was, prior to June 1, 1916, no binding acceptance of the option by Soutter, such as created a contract between the parties and could be enforcedly proceedings for specific performance. On that day, an agreement of sale was executed between the appellants, as agents
It is true that Soutter subsequently purchased the property and paid the purchase-price, but that was done under the terms of the new agreement of June 1, 1916, and not under the option given by Graham, for there
The court below was, therefore, right in entering judgment non obstante veredicto in favor of the defendants.
The assignments of error are overruled and the judgment is affirmed.