Wiley v. Tom Howell & Assoc., Inc.

Wiley (plaintiff) contracted with Tom Howell & Associates (defendant) to sell his home, with a clause providing that if the home did not sell within 60 days, Howell would buy it at the appraised value. Howell made no purchase offer after 60 days passed, Wiley fell behind on payments, and the home was sold at foreclosure. Wiley sued for specific performance, arguing Howell was obligated to buy the home; the trial court ruled for Howell, and Wiley appealed.

Whether a real estate sales option must define the purchase price with sufficient certainty, including how that price will be determined, to satisfy the Statute of Frauds.