Option to Purchase Based on Appraisal is Enforceable

Lease agreement with option to purchase, that did not specify a purchase price but instead stated that the purchase price would be based on an appraisal to be obtained, did not violate the statute of frauds and the lessee-purchaser was entitled to specific performance.  Horack Estate, 7 Fid.Rep.3d 125 (Monroe Co. O.C. 2016).

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