LOVELESS V. DIEHL
235 Ark. 805, 236 Ark. 129, 364 S.W. 2d 317 (1963)
NATURE OF THE CASE: This was a dispute over an option to buy a farm.
FACTS: Loveless (P) owned a farm and leased it to Diehl (D) for three years. The lease
included an option to buy the land for $21,000. D could not buy the land and sought someone
else to buy the property from them for a higher price before the option expired. D found a
Dr. Hart who was willing to pay $22,000 for the property. P got wind of the D-Hart trade and
informed everyone that they would not honor the option agreement. D sued for specific
performance. The trial court found that P owed D the $1,000 lost from the Dr. Hart sale and
that P was due $1440.95 with interest less from D for a milking machine. Both parties
appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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