Jackson paid Brady $700 for a 90?day option to purchase Brady's 160?acre farm for $132,000. The option agreement was in writing and signed by both parties. The agreement referred only to the option, its period, a legal description of the farm, and
the purchase price. Thirty days later, Jackson wrote Brady, "I hereby exercise my option to purchase your farm for $132,000, subject to your replacing the well pump and related plumbing fixtures." Is there a contract? Is the option still valid?
In these circumstances, we have an attempted acceptance of an option. But the acceptance is conditioned upon the well pump and fixtures being replaced. This is not an acceptance, but a counteroffer and rejection. Also, the rejection is premature.
Under View 1 - the option is terminated.
Under View 2 - the option continues unless there is a refund and a release.
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