Smith v. Wheeler

Smith (defendant) received a one-year option to buy Wheeler's (plaintiff) property, with the agreement reciting $1.00 in consideration that was never actually paid; Wheeler declared the option void for lack of paid consideration and moved to sell to someone else, but Smith then sent the $1.00 along with notice of his intent to exercise the option and readiness to close, which Wheeler refused to accept, instead suing for a declaratory judgment that the option was void, and the trial court granted Wheeler judgment on the pleadings.